# DadeSystems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/dadesystems

- Industry: Software
- Headquarters: Miami, US
- Website: www.dadesystems.com
- Total disclosed funding: $11M
- Latest round: Series D (Nov 14, 2019)
- Investors on record: 3

## About

DadeSystems, Inc. is a specialized technology company focused on enhancing the accounts receivable process through innovative automation solutions that improve cash flow and operational efficiency for businesses.Founded in 2011 and headquartered in Miami, US, DadeSystems, Inc. provides automation solutions for accounts receivable. The company was acquired by VersaPay Corporation in April 2022, which broadened its suite of accounts receivable solutions. Doug Hathaway founded the company, and it has successfully completed 5 deals since inception, raising a total of USD 9.00 mn through its latest funding round, Series D, led by Napier Park Global Capital, with participation from Fifth Third Bank and Ocean Azul Partners.DadeSystems offers advanced accounts receivable automation software designed to streamline the invoice-to-cash process for businesses. Its core products include automated invoicing, cash application, and payment acceptance, all integrated into a single platform. The technology leverages data and artificial intelligence to enhance operational efficiency and cash flow visibility, particularly for B2B transactions, offering flexible payment solutions such as ACH, credit cards, and virtual cards. DadeSystems serves a diverse client base across industries including commercial real estate and construction, with notable customers such as Boston Properties and Tirehub, and its products are available in key markets across North America and Europe.DadeSystems operates on a transactional revenue model primarily through subscription services that grant access to its platform and tools for accounts receivable functions. Clients utilize the software for automated invoicing and cash application, enhancing their financial management capabilities. The revenue structure includes fees based on transaction volume and processing fees for payment acceptance services, with pricing plans tailored to meet the specific needs of businesses, thereby facilitating efficient cash flow management.Following its acquisition by VersaPay Corporation in April 2022, DadeSystems aims to enhance its product offerings by integrating advanced AI and machine learning capabilities into its accounts receivable automation solutions. The recent funding will support these initiatives, allowing for the development of new products designed to improve the invoice-to-cash process. Plans for future market expansion include targeting additional geographical regions to increase its presence in North America and Europe, with a focus on launching new features and products in the upcoming year.

## Funding rounds

- Series D, Nov 14, 2019, $9M — Fifth Third Bank, Napier Park Global Capital, Ocean Azul Partners
- Series A, Apr 18, 2017, $2M — Ocean Azul Partners

## Investors

- Ocean Azul Partners (https://capitalatlas.ai/funds/ocean-azul-partners) — Series A, Series D
- Fifth Third Bank — Series D
- Napier Park Global Capital (https://capitalatlas.ai/funds/napier-park-global-capital) — Series D