DocuPhase Acquires Payments Technology Company, Clearwater Payments

Fast Growing Business Process Automation (BPA) company, DocuPhase acquires robust payments technology platform, Clearwater Payments to bring a fully integrated end-to-end AP and A/R payment automation solution to market.

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DocuPhase

Apr 12, 2021, 06:00 ET

CLEARWATER, Fla., April 12, 2021 /PRNewswire/ -- DocuPhase announced today another technology acquisition with Clearwater Payments, a cloud-based electronic billing and payment solution provider located in Dallas, TX. Clearwater Payments supports and processes millions of B2C and B2B payments for enterprise clients in banking, insurance, and utilities.

Since LoneTree Capital's acquisition in June 2020, DocuPhase has invested over three million dollars in technology and talent to strengthen their product offering to support record demand of organizations moving rapidly to automate their business processes. On top of that investment the acquisition of Clearwater Payments marks the second acquisition by DocuPhase in 2021. Earlier this month DocuPhase announced the acquisitions of Treeno Software. With the recent acquisition of Treeno and Clearwater, DocuPhase becomes one of the few industry players to offer end-to-end payments within the A/R and AP automation marketplace.

"It is our mission to create an end-to-end accounting automation solution for our customers from the point of receiving an invoice, to intelligent scanning, data entry, and storage in their ERP system followed by completing the process with approval workflows resulting in fully automated electronic payments." said Dan Gaertner, CEO of DocuPhase. "The acquisition of Clearwater Payments gives us that final piece to complete the mission of providing a fully automated AP and A/R solution for our customers."

CEO of Clearwater Payments, David Kesler, added, "We are extremely excited about our partnership with DocuPhase and LoneTree. When we founded Clearwater, our primary objective was to provide our clients with best-of-class electronic bill payment products and services. This partnership allows us to not only continue that objective, but also enhances and improves our client experience with the addition of DocuPhase's process automation and document management platform. This creates a payments hub, managing both receivables and payables. That is a powerful offering for our clients."

About DocuPhase: DocuPhase is a complete low-code/no-code browser-based platform that includes four core components—Workflow Automation, Document Management, Web Forms, and Capture Recognition—that delivers unmatched efficiency and unparalleled performance to companies around the world. Founded in 2000 in Tampa Bay, FL, DocuPhase specializes in automating accounting processes, purchase orders, sales orders, invoice capture, AP approvals, payments, vendor management, and other business processes. For further information, visit www.docuphase.com.

About LoneTree Capital: LoneTree is a growth-focused private capital firm that provides flexible capital, M&A, and operational support to leading companies in high-growth sectors. LoneTree invests $5 million to $30 million per transaction into select sectors including software, digital infrastructure, healthcare IT / services, business and consumer services, and financial technology / specialty finance. For more information, please visit www.lonetreecap.com.

CONTACT: Jessie Bumgarner, +17276081768, [email protected]

SOURCE DocuPhase