The startup aims to reinvent the revenue lifecycle for the modern enterprise
SAN FRANCISCO, CA/ACCESSWIRE/June 15, 2022/ Nue.io, a revenue lifecycle platform designed for modern SaaS businesses, today announced the closing of a $6 million funding round led by Information Venture Partners with participation from NextWorld Capital, SVTech, Bluefish and a group of established technology angel investors. The funding cycle will enable Nue to help companies innovate and manage end-to-end customer revenue lifecycles with real-time analytics.
Modern SaaS companies rely on complex product models and pricing structures (discounts, promotions, tiers, ramp, renewals, etc.) to generate revenue, but traditional RevOps tools such as CPQ, billing solutions or custom code don’t work anyway. modern businesses need to engage their customers and increase their revenue.
“I tried to solve this problem for my clients with traditional CPQs and billing providers,” says Nue co-founder Tina Kung. “I kept thinking, ‘Why can’t selling in business be as easy as selling and buying on Amazon?'”
Most SaaS companies use a patchwork of point solutions that are cumbersome, fragmented, and cannot provide a consolidated view of revenue from sales (CRM) to finance (ERP). Adding new sales channels (partner, direct, or self-service) often means launching parallel processes with different technology stacks for quotes versus self-service. Testing innovative pricing models usually involves hard-coded deployments. Order changes almost always mean multiple manual exercises to ensure the order is correct, financial co-terminations are accounted for, provisioning takes place and Rev Rec works, and revenue details are not reconciled only at the end of the line in finance.
“As we spoke with SaaS companies, it became clear that they needed a new approach to enable RevOps teams to not only operationalize their sales processes, but also to truly innovate,” explains the co-founder. of Nude, Kate McCullough. “That means taking your customer through a lifecycle, where you can land and grow your business with them, and then offer revenue analytics every step of the way, from sales to finance.”
With the launch of Nue, Kung, McCullough and the rest of the Nue team arrived at a solution for modern SaaS businesses.
- “There is a clear need for an omnichannel solution that can look at this holistically and deliver the best customer experience,” concludes angel investor Sunil Madan, CIO of Birdeye and former CIO of Zoom.
- “Nue is building essential infrastructure for today’s modern revenue lifecycle, finally unifying sales and finance teams with accurate, real-time visibility from opportunity to cash,” said Rob Antoniades, co -founder and general partner of Information Venture Partners. “We are excited to invest in this team as they bring their passion and deep domain experience to the modernization of revenue management within organizations today.”
- “Nue’s revenue lifecycle management allows us to manage (everything) from that initial new quote to co-termination, upsells, expansion revenue, to renewal opportunities – all in one place,” says Nue client Eric Portugal Welsh, Director of Revenue Operations at Demostack.
- “Billing needs to be raised to something across all departments,” says Cheng Zou, board member, former CTO and co-founder of Zuora. “In this new market name, we call it revenue lifecycle management. So, holistically, a business can make the best revenue decisions. »
Nue is an easy-to-manage, omnichannel RevOps platform designed to meet the needs of modern enterprises for innovation and end-to-end management of their customers’ revenue lifecycles. With Nue, RevOps teams can accelerate sales with innovative pricing models and streamlined processes (direct commerce and self-service) so companies can easily manage quotes, orders, renewals, and invoicing, while providing accurate analysis to finance. Learn more about nude.io.
THE SOURCE: Nue.io
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