Rev.io today announced a significant growth equity investment by Primus Capital (“Primus”). Rev.io offers a sophisticated billing, back-office and payments SaaS platform to communications, Internet of Things (“IoT”), and other managed service and technology providers, helping these clients grow their revenue, leverage efficiencies, and realize digital transformations. This investment by Primus will help Rev.io achieve its growth targets and drive scalability across its operations.
“This partnership with Primus marks the start of a new era at Rev.io,” said Brent Maropis, CEO of Rev.io. “While the cloud communications, IoT, and managed services industries have significant growth opportunities ahead, even the best providers can struggle with inefficiencies and revenue leakage associated with their subscription-based billing. Rev.io already helps a deep base of clients grow their revenue efficiently on our billing, customer management, and payments platform. By leveraging Primus’ experience, insight into SaaS best practices, and financial support, we can realize full scalability in our operating models and accelerate our already impressive growth trajectory.”
Ron Hess, Managing Director at Primus, said, “Rev.io focuses on solving some of the most complex invoicing and billing use cases in the communications market while operating as a true business partner to its customers. The positive feedback we got from the market was overwhelming.” Vasant Kamath, Director at Primus, added, “Rev.io’s customers can evolve their businesses and accelerate their time to market by using the Rev.io platform. We are excited about the opportunity to support the team to build on their significant momentum and continue to innovate in this category.”
As part of this recapitalization, Hess, Kamath, and AuthVia’s President and COO Trevor Rubel will join Rev.io’s board of directors, along with Maropis and Rev.io’s Founder and CTO Ross Overstreet.
Alantra’s US technology team served as the exclusive financial advisor for Rev.io in the transaction.
Rev.io provides sophisticated billing-as-a-service (BaaS) to communications companies, IoT companies, and technology service providers. Rev.io enables clients managing sophisticated subscription billing models with the industry’s most complete quote-to-cash financial processing experience to effectively manage end customers’ subscriptions, usage, taxation, billing, and payment processing. For more information, visit www.rev.io.
About Primus Capital
Primus Capital is a growth-oriented private equity firm focused on investing in leading software, healthcare and technology-enabled services companies. Primus partners with exceptional management teams to accelerate growth, improve operating performance, and increase the value of the companies in which they invest. Primus pursues buyouts, control and minority recapitalizations, secondary share purchases and expansion financings; this flexible approach enables them to engage with business owners and design tailored investment structures to meet the particular needs of the transaction. For more about Primus, visit www.primuscapital.com.