# Payzer

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

- Industry: Software
- Headquarters: Charlotte, US
- Website: www.payzer.com
- Total disclosed funding: $37M
- Latest round: Series D (Jun 4, 2021)
- Investors on record: 7

## About

Payzer, LLC, based in the US, provides specialized software solutions for the HVAC and plumbing industries, focusing on enhancing operational efficiency and client service for contractors.Payzer, LLC is dedicated to offering software solutions that streamline operations for contractors in the HVAC and plumbing sectors. Founded in 2012 and headquartered in Charlotte, US, the company has secured a total of USD 261.00 mn from 6 funding rounds, with the latest investment being a Trade Sale completed in October 2023. The company was led by Joe Giordano, who serves as both Founder and CEO. In this recent transaction, Wex, Inc. acquired Payzer from various investors, including Alerion Ventures and Ferguson Ventures, among others.Payzer offers a comprehensive suite of software solutions tailored specifically for the HVAC and plumbing industries, including tools for back office management, field operations, client experience enhancement, and insights management. Their core product is designed to streamline daily operations for contractors, enabling them to manage scheduling, invoicing, and customer relationship management seamlessly. Payzer’s platform serves a diverse client base of over 35,000 contractors, ranging from small businesses to larger firms, all of whom rely on their software to enhance operational efficiency and improve service delivery. The company’s offerings are marketed primarily in the United States, with penetration in various states known for robust HVAC and plumbing activities, allowing contractors to address challenges such as managing service calls and optimizing collections.Payzer generates revenue through subscription-based models that provide tiered access to its software solutions, catering to various contractor needs. Clients typically engage with the company through direct subscriptions, allowing them to choose plans based on the scale and complexity of their operations. For example, contractors may opt for packages that include essential features for field operations and client management, investing in tools that facilitate efficient invoicing and payment collections. The pricing structure is designed to accommodate businesses of different sizes, ensuring that even smaller contractors can access critical functionality without prohibitive costs. As a result, Payzer sustains its revenue through a consistent stream of subscription fees, while also potentially offering add-on services that enhance the core functionality of its software.Following the recent acquisition by Wex, Inc. on October 25, 2023, Payzer plans to leverage its new parent company's extensive product offerings to create cross-selling opportunities. This acquisition is expected to be completed by the end of 2023 and will support upcoming product developments aimed at enhancing their existing software solutions. The company is also considering expansion into new geographic markets to enhance its reach in the HVAC and plumbing sectors. The investment from Wex, Inc. will play a significant role in facilitating these growth initiatives.

## Funding rounds

- Series D, Jun 4, 2021, $20M — Grotech Ventures, Harbert Management, IDEA Fund Partners, Route 66 Ventures, Alerion Ventures, Ferguson Ventures
- Series C, Nov 19, 2018, $9.2M — Grotech Ventures, IDEA Fund Partners, Route 66 Ventures, Pathward Financial, Inc., Ferguson Ventures
- Series B, Sep 13, 2016, $4.3M — Grotech Ventures, IDEA Fund Partners, Route 66 Ventures
- Series A, Nov 6, 2014, $4M — Grotech Ventures, Route 66 Ventures

## Investors

- Grotech Ventures (https://capitalatlas.ai/funds/grotech-ventures) — Series A, Series B, Series C, Series D
- Route 66 Ventures (https://capitalatlas.ai/funds/route-66-ventures) — Series A, Series B, Series C, Series D
- IDEA Fund Partners (https://capitalatlas.ai/funds/idea-fund-partners) — Series B, Series C, Series D
- Pathward Financial, Inc. — Series C
- Ferguson Ventures (https://capitalatlas.ai/funds/ferguson-ventures) — Series C, Series D
- Harbert Management (https://capitalatlas.ai/funds/harbert-management) — Series D
- Alerion Ventures (https://capitalatlas.ai/funds/alerion-ventures) — Series D