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Tesorio Raises $17 Million Series B To Change The Way B2B Businesses Manage Accounts Receivables

Jul 05, 2022•about 3 years ago

Amount Raised

$17 Million

Round Type

series b

San Francisco

Description

Tesorio, an accounts receivable management platform, today announces $17 million in Series B funding led by BAMCAP Ventures, a VC group formed by accomplished company builders and investors. The round includes participation from existing investors Madrona Venture Group, First Round Capital, Floodgate, FundersClub, Hillsven, Mango Capital, and Xplorer Capital, plus new investors Susan and Anne Wojcicki and Carao Ventures. New board members include Jim Sheward from BAMCAP (former CEO of Fiberlink acquired by IBM), Rob Hull (founder of Adaptive Insights acquired by Workday), and Scott Torrey who joins as Executive Chairman (former CEO of Payscale & CRO of SAP Concur).

Company Information

Company

Tesorio

Location

San Francisco, California, United States

About

We were drawn to Tesorio by its product traction, customer-first mindset, and how critical this platform is even in a down cycle when capital is more valuable," said Jim Sheward, Partner at BAMCAP Ventures. The company has raised a total of $37.6 million in funding to date from investors such as BAMCAP, First Round Capital, Floodgate, Madrona Venture Group, and Y Combinator. Tesorio enables its customers to turn their revenue into cash.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech