Madison, Wis. (PRWEB) July 26, 2012
TermSync, Inc., the accounts receivable automation platform that ensures businesses get paid faster, today announced it completed a $2.2 million financing round. This latest investment comes from a group of local private investors and brings the total amount TermSync has raised to $3 million.
Through word of mouth promotion and the support of a small account development team, the TermSync platform has been adopted by over 20,000 companies ranging from small businesses to large enterprises. The additional financing will be used to further scale operations, develop advanced product features and aggressively increase sales and marketing initiatives.
“With the growing success of the TermSync platform, we’ve seen meaningful traction within our market space,” said Mark Wilson, chief executive officer of TermSync. “This latest round of funding will support several new initiatives, including partnerships with financial institutions, accounting firms and other trusted advisors to our clients. This will deepen the relationship with our existing customers and support rapid growth through new client acquisition.”
TermSync’s B2B network and proprietary platform better connect businesses with their customers to power faster payments, reduced collection efforts and more efficient payment processes. The customers of TermSync clients receive streamlined communication and reduced processing costs all while retaining the payment control they require.
TermSync, Inc. is an accounts receivable automation platform that ensures businesses get paid faster and receive more visibility from customers without having to make a collection call. Founder Mark Wilson, CPA, experienced firsthand the pains companies go through to get cash in the door while he served in various accounting leadership positions. In creating TermSync, Wilson set out to revolutionize the outdated payment terms process in a manner that is accepted by both businesses and their customers. TermSync is privately held and headquartered Madison, Wisconsin.