Billing and Revenue Automation Platform to Double R&D Investment to Help CFOs Automate Quote-to-Cash
WASHINGTON, Aug. 5, 2026 /PRNewswire/ — Ordway, the monetization platform for innovative business models, today announced that it has secured access to $20M in additional equity and debt funding to accelerate investments in AI product development and company growth. Ordway’s latest funding round was led by Harbert Growth Partners with debt participation from Western Alliance Bank’s Innovation Banking Group.
Ordway’s recurring revenue has doubled over the past two years, while the company has maintained profitability. More enterprise deals with more complexity – multiple legal entities, multiple general ledgers, and multiple financial reporting jurisdictions – are driving larger deals in new customer acquisition. Attach rates for new products are growing among existing accounts, as more customers adopt Ordway payments, quotes, self-service portal, and checkout offerings.
In the past year, Ordway has introduced a number of new AI-powered offerings, including MCP access for Claude, a new AI-powered cash reconciliation feature that matches payments across banking channels to their corresponding invoices, and an AI contract data abstraction that reads subscription agreements and extracts the necessary details for billing and revenue recognition.
Ordway is also expanding into payments with the launch of Ordway Payments, a unified platform designed to eliminate the manual work and data fragmentation involved in processing payments, matching them to invoices, and reconciling revenue.
“We founded the company with a mission of automating the quote-to-cash process for high-growth companies, but there is still work to be done. The handoff from sales to finance remains one of the messiest parts of the business,” said Sameer Gulati, CEO and founder of Ordway. “The sales team pops open a bottle of champagne every time a new deal is closed, but finance cries in their coffee because of all the complex gymnastics that will be needed to perform the accounting and billing.”
With the new capital, Ordway will double its R&D budget to accelerate the build-out of its AI product roadmap. Investments include AI agents that will automate time-consuming, routine tasks such as updating billing, accounting, and investor KPIs following contract modifications, renewals, and pauses. Ordway is also expanding its reporting suite to include AI-powered forecasting models for cash flows, customer churn, and revenue growth.
“AI is driving rapid levels of change and complexity into pricing, monetization, and billing strategies for technology-centric companies,” said Tom Roberts, General Partner at Harbert Growth Partners. “Ordway is extremely well positioned to help companies adapt to the new AI-centric paradigm in finance, and we are excited to invest and partner with them as they enter the next phase of growth.”
The investment positions Ordway to help finance teams manage a new generation of increasingly complex business models without adding more spreadsheets, manual processes, or operational overhead. As pricing and revenue models evolve, Ordway is building the intelligent financial infrastructure companies need to scale with greater speed, accuracy, and control.
To learn more about Ordway’s AI-powered quote-to-cash platform, visit https://ordwaylabs.com/.
About Ordway
Ordway is a billing and revenue management platform designed for today’s innovative, technology-centric business models. Hundreds of AI, SaaS, cloud, and subscription businesses use Ordway to automate the quote-to-cash cycle with self-service checkout, subscription management, usage-based billing, revenue recognition, and investor reporting. To learn more visit www.ordwaylabs.com.
About Harbert Management Corporation
HMC is an alternative asset manager with approximately $7.8 billion in Regulatory Assets Under Management as of June 30, 2026. Founded in 1993, the firm is privately owned and serves a variety of institutional investors across multiple asset classes. Investment strategies include European and U.S. real estate, seniors housing, power, growth capital, and credit solutions. For additional information, visit www.harbert.net.
About Western Alliance Bank
Western Alliance Bancorporation is one of the country’s top-performing banking companies and has been ranked as a top U.S. bank by American Banker and Bank Director since 2016. Its primary subsidiary, Western Alliance Bank, is a leading national bank for business that puts customers first, delivering tailored business banking solutions and consumer products backed by outstanding, personalized service and specific expertise in more than 30 industries and sectors. With $90 billion in assets and offices nationwide, Western Alliance excels at helping businesses of all sizes capitalize on their opportunities to solve today and succeed tomorrow. For more information on our offerings, subsidiaries and affiliates, visit Western Alliance Bank, Member FDIC, or follow us on LinkedIn.
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SOURCE Ordway Labs
