# MineralTree

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

- Industry: Software
- Headquarters: Cambridge, US
- Website: www.mineraltree.com
- Total disclosed funding: $112M
- Latest round: Series D (Sep 24, 2020)
- Investors on record: 4

## About

MineralTree, Inc. specializes in accounts payable (AP) automation solutions that streamline payment processes for businesses, enhancing efficiency and control over financial workflows.Founded in 2010 in Cambridge, US, MineralTree, Inc. offers innovative AP automation solutions. The company's latest funding round was a TRADE SALE in September 2021, where Global Payments Inc. acquired it for USD 500.000 mn. This acquisition marks a significant milestone in the company's trajectory, enabling it to leverage Global Payments' resources and market reach. CEO Micah Remley leads the company, which has completed a total of 8 deals, with the most recent occurring on September 8, 2021.MineralTree primarily offers accounts payable (AP) automation solutions designed to streamline the payment processes for businesses. Their core products, including MineralTree TotalAP and MineralTree TotalPay, facilitate the payment of vendor bills through various methods such as virtual cards, ACH, and checks, all integrated seamlessly within accounting systems like Sage Intacct. The solutions cater to mid-market and enterprise clients across multiple sectors, including healthcare, non-profits, food and beverage, education, and retail. By automating AP workflows, MineralTree addresses common challenges such as inefficiencies in invoice processing and cash flow management, enabling organizations to operate with enhanced visibility and control. Their solutions are prevalent in North America and Europe, serving a diverse client base that includes organizations like the Baltimore Ravens and EO Products.MineralTree generates revenue primarily through subscription models for its AP automation services, which are structured to cater to businesses of different sizes. The firm typically engages in B2B transactions, where clients subscribe to its platforms for a set period, allowing them to manage payments and invoicing digitally. Revenue is derived from the usage of their flagship products, MineralTree TotalAP and TotalPay, which streamline workflows and reduce manual processing times. Additionally, the company may earn rebates from transactions processed through its virtual card offerings, enhancing its revenue stream. Specific pricing plans for these services are established based on company requirements and the scale of the implementation, allowing MineralTree to tailor its offerings to meet various business needs.In September 2021, Global Payments Inc. agreed to acquire MineralTree, Inc. for USD 500.000 mn in cash, with the transaction expected to close in Q4 of 2021. Following this acquisition, MineralTree aims to expand its product offerings and enhance its technology stack. The integration with Global Payments is anticipated to facilitate entry into new markets and geographic regions, enhancing its service capabilities. The investment from this acquisition is expected to support the development of upcoming products and the expansion into additional sectors.

## Funding rounds

- Series D, Sep 24, 2020, $54M — Great Hill Partners, Eight Roads Ventures, .406 Ventures
- Series C, Mar 13, 2019, $38M — Great Hill Partners, Eight Roads Ventures, .406 Ventures
- Series B, Jan 30, 2015, $11M — Eight Roads Ventures, .406 Ventures, First Data Ventures
- Series A, Jun 7, 2012, $6.3M — Eight Roads Ventures, .406 Ventures
- Seed, Dec 9, 2011, $2.1M — .406 Ventures
- Seed, Dec 31, 2010, $0.3M — .406 Ventures

## Investors

- .406 Ventures (https://capitalatlas.ai/funds/406-ventures) — Seed, Series A, Series B, Series C, Series D
- Eight Roads Ventures (https://capitalatlas.ai/funds/eight-roads-ventures) — Series A, Series B, Series C, Series D
- First Data Ventures (https://capitalatlas.ai/funds/first-data-ventures) — Series B
- Great Hill Partners (https://capitalatlas.ai/funds/great-hill-partners) — Series C, Series D