Accounts receivable management platform Tesorio snags $17m Series B

BAMCAP Ventures led the round.

  • BAMCAP Ventures led the round
  • Other backers included Madrona Venture Group, First Round Capital, Floodgate, FundersClub, Hillsven, Mango Capital and Xplorer Capital
  • Jim Sheward of BAMCAP has joined Tesorio’s board

Tesorio, an accounts receivable management platform, has raised $17 million in Series B funding. BAMCAP Ventures led the round with participation from other backers that included Madrona Venture Group, First Round Capital, Floodgate, FundersClub, Hillsven, Mango Capital and Xplorer Capital.

The new funding brings Tesoria’s total capital raised to date to $37.6 million.

In addition to the funding, Jim Sheward of BAMCAP has joined Tesorio’s board.

Also, Tesorio has named Mark Bartlett as chief sales officer and George Coughlin as vice president of marketing. Bartlett comes to Tesoria after amassing 20 plus years of sales experience from Concur, BlackLine, SAP and Navis. Coughlin has 20-plus years of marketing experience from Adaptive Insights and Intuit.

Tesorio’s platform includes collections automation, a collections dashboard, customizable dunning, dynamic workspace functionality and streamlined payments.

“We make capital-efficient growth a reality, which is now more important than ever,” Tesorio CEO and co-founder Carlos R. Vega said in a statement. “This round gives us the leadership and backing to take our A/R product customers love and become the leading cash flow performance platform for mid-market accounting teams.”

Tesorio’s clients include Slack, Box, Veeva Systems, Twilio and Domo.