# Softrax Corporation

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

- Industry: Software
- Headquarters: Canton, US
- Website: www.softrax.com
- Total disclosed funding: $3.6M
- Latest round: Series B (Aug 9, 1999)
- Investors on record: 4

## About

Softrax Corporation specializes in revenue management solutions through its Revenue Management System (RMS), which automates billing and revenue recognition for diverse clients across multiple industries.Softrax Corporation, headquartered in Canton, US, focuses on automating revenue management processes. The company has not publicly disclosed any pivots in business strategy or changes in operations. In December 2008, Softrax Corporation secured USD 1.7 mn in funding from Allegra Partners, Egan Managed Capital, and Ticonderoga Capital. The total amount raised by the company stands at USD 1.7 mn. The founder's detailed history or previous ventures was not available at the time of this report.Softrax’s primary offering is the Revenue Management System (RMS), a comprehensive multi-tenant cloud platform designed to automate all facets of billing and revenue recognition. Released in 1999 and enhanced over the years, Softrax RMS serves a diverse client base that ranges from startups to Fortune 500 companies across various industries, including technology, healthcare, media, and manufacturing. The system addresses significant challenges in revenue management by integrating functionalities such as order management, contract renewal management, and sophisticated billing—specifically tailored for complex billing models including subscription, milestone, and consumption-based billing. Key end users encompass finance professionals and revenue managers who require compliance with revenue recognition standards like ASC 606 and IFRS 15, as well as real-time analytics to drive business decisions. The software is utilized globally, with deployments in North America, Europe, and Asia-Pacific markets.Softrax generates revenue primarily through subscription-based licensing of its RMS platform, structured as a recurring revenue model that ensures ongoing support and updates for clients. The company’s transaction framework typically involves enterprise agreements with clients who leverage the platform to streamline billing and revenue recognition processes. These agreements may include various pricing tiers based on the size of the organization and the complexity of the billing structures they require. The RMS suite automates billing processes while ensuring compliance with accounting standards, facilitating a seamless end-to-end experience for users. Clients engage in transactions that may span multiple currencies and entities, underscoring the platform's capability to manage complex financial scenarios within international markets. The distinct value proposition of Softrax RMS lies in its ability to reduce errors and enhance operational efficiencies, which translates to significant cost-savings for its users.Despite the absence of specific details regarding new product launches or geographic expansions, the recent funding of USD 1.7 mn received in December 2008 is expected to support the company's initiatives aimed at enhancing its RMS platform and possibly expanding its market presence. Softrax will likely focus on leveraging this investment to improve operational capabilities and explore new growth avenues.

## Funding rounds

- Series B, Aug 9, 1999, $3.6M — Mid-Atlantic Venture Funds, Knickerbocker, Egan Managed Capital, Walnut Venture Associates

## Investors

- Mid-Atlantic Venture Funds (https://capitalatlas.ai/funds/mid-atlantic-venture-funds) — Series B
- Knickerbocker — Series B
- Egan Managed Capital (https://capitalatlas.ai/funds/egan-managed-capital) — Series B
- Walnut Venture Associates (https://capitalatlas.ai/funds/walnut-venture-associates) — Series B