Billing automation startup Ordway get $20M funding from Harbert Growth Partners
Ordway has secured $20 million in growth capital to accelerate development of its AI-powered billing and revenue automation platform as the company expands its quote-to-cash software for high-growth businesses. The funding consists of a combination of equity and debt led by Harbert Growth Partners, with debt participation from Western Alliance Bank’s Innovation Banking Group.
The Washington, D.C.-based company provides a cloud-based monetization platform that automates the quote-to-cash process for AI, SaaS, cloud, and subscription businesses. Its software supports subscription management, usage-based billing, revenue recognition, payments, self-service checkout, and investor reporting, helping finance teams manage increasingly complex pricing and revenue models.
Ordway said it will use the new capital to double its research and development budget, with a primary focus on expanding its artificial intelligence roadmap. The company is developing AI agents that automate routine finance operations, including updating billing records, accounting workflows, and investor key performance indicators after contract changes, renewals, and subscription pauses. It is also building AI-powered forecasting models for cash flow, customer churn, and revenue growth.
Over the past year, Ordway has introduced several AI-driven capabilities, including AI-powered cash reconciliation that automatically matches payments from multiple banking channels with invoices, an AI contract abstraction tool that extracts billing and revenue recognition data from subscription agreements, and Model Context Protocol (MCP) access for Claude to enable AI-assisted financial workflows. The company has also launched Ordway Payments, a unified platform designed to streamline payment processing, reconciliation, and revenue management.
The financing follows a period of continued business growth. Ordway said its recurring revenue has doubled over the past two years while remaining profitable. The company has also seen increasing demand from enterprise customers operating across multiple legal entities, general ledgers, and financial reporting jurisdictions, as well as growing adoption of its payments, quoting, self-service portal, and checkout products among existing customers.
As AI reshapes software pricing and business models, finance organizations are facing greater operational complexity. Companies increasingly support subscription, consumption-based, hybrid, and AI-driven pricing structures that require flexible billing and revenue systems. This has driven demand for platforms capable of automating financial operations while reducing reliance on spreadsheets and manual processes.
With the latest funding, Ordway plans to continue building AI-powered financial infrastructure that helps businesses automate billing, accounting, forecasting, and revenue operations. The investment positions the company to expand its enterprise offering as finance teams adopt AI to streamline quote-to-cash workflows and manage increasingly sophisticated monetization strategies.