Payra, a B2B payments and accounts receivable automation platform built for blue-collar and construction-oriented businesses operating on legacy enterprise resource planning systems, announced that it has raised a $15 million growth equity investment from Edison Partners.
The Nashville-based company focuses on modernizing cash collection processes for construction and building supply businesses without requiring them to replace their existing ERP systems. Payra integrates directly with accounting platforms such as Trimble Viewpoint, Foundation, Sage and NetSuite, leveraging proprietary AI-enabled technology to embed payments and cash application automation within systems that often lack modern APIs.
By integrating into established ERPs, Payra enables customers to accept ACH, card and other digital payment methods while automating cash application and reconciliation inside their current accounting environments. The company targets what it describes as a $200 billion segment of the U.S. economy comprised of construction suppliers, concrete producers, lumber yards, HVAC distributors and other industrial businesses that frequently rely on paper invoices, checks and manual reconciliation processes.
Payra says its customers have achieved 20% reductions in days sales outstanding and a 75% decrease in past-due invoices, along with significant time savings through automated cash application. The company reports that it has reached a revenue run rate exceeding $10 million within 15 months of launch, driven by demand from family-owned and regional businesses across the U.S. heartland.
Edison Partners cited Payra’s ERP-native model as a differentiator in the accounts receivable automation and payments landscape, noting its focus on meeting traditional businesses within their existing technology stacks. The growth capital will be used to expand Payra’s product capabilities, deepen ERP integration partnerships and scale go-to-market efforts across construction and industrial verticals.
Payra joins Edison Partners’ broader portfolio of fintech infrastructure companies, as the growth equity firm marks its 40th year of investing and continues to focus on high-growth vertical SaaS, financial technology and healthcare IT companies outside Silicon Valley.
KEY QUOTES:
“These businesses are the backbone of the economy, but they’ve largely been left behind by modern fintech. They don’t want to rip out their ERPs, they want faster cash flow, fewer past-due invoices, and less manual work. With Edison’s shared ethos for supporting America’s businesses and its expertise in payments and accounts receivables, we’re excited to scale efficiently and with focus.”
Riley Lovingood, CEO and Co-Founder of Payra
“We’ve watched this category evolve for more than 20 years. Payra represents the next generation of AR automation. It is the only AI-enabled software that meets traditional businesses where they are and helps them to modernize and drive ROI within their existing tech stack.”
Chris Sugden, Managing Partner at Edison Partners
