Ordway has secured access to $20 million in additional equity and debt financing to expand its AI-powered billing, revenue management, and quote-to-cash platform. Harbert Growth Partners led the equity financing, while Western Alliance Bank’s Innovation Banking Group provided debt capital.
Ordway plans to double its research and development budget as it develops AI agents to automate repetitive finance work related to contract modifications, renewals, pauses, billing changes, accounting metrics, and investor reporting.
The company is also expanding its AI-powered forecasting capabilities for cash flow, customer churn, and revenue growth.
Ordway’s recurring revenue has doubled over the past two years while the company has remained profitable. The company said it is increasingly winning larger enterprise customers with more complex requirements involving multiple legal entities, general ledgers, and financial reporting jurisdictions.
Recent AI products include MCP access for Claude, automated cash reconciliation, and contract data abstraction that reads subscription agreements and extracts information needed for billing and revenue recognition.
Ordway has also launched Ordway Payments, which combines payment processing, invoice matching, and revenue reconciliation in a unified system.
KEY QUOTES:
“We founded the company with a mission of automating the quote-to-cash process for high-growth companies, but there is still work to be done. The handoff from sales to finance remains one of the messiest parts of the business.”
Sameer Gulati, Founder and CEO of Ordway
“AI is driving rapid levels of change and complexity into pricing, monetization, and billing strategies for technology-centric companies. Ordway is extremely well positioned to help companies adapt to the new AI-centric paradigm in finance, and we are excited to invest and partner with them as they enter the next phase of growth.”
Tom Roberts, General Partner at Harbert Growth Partners
