In the two years since I announced our seed funding, a lot has changed—for RightRev, and for the field of revenue management. We started with a vision for a hyper-scale solution that was easy to implement and would automate the most complex revenue recognition use cases.
In short: We wanted to banish friction from the lives of Controllers and Revenue Accountants.
Today, the momentum to achieve that goal is accelerating as we close almost $13 million in Series A funding, bringing our total funding to over $31 million.
We’re proud to have this investment co-led by innovation advocates Cheyenne Ventures and Innovius Capital, plus longtime believers (and repeat investors) including Norwest Venture Partners, Salesforce Ventures, and Snowflake Ventures.
We’ve already achieved a lot in a short span of time. Recently, RightRev was recognized as a leader in the 2024 MGI Research Automated Revenue Management Buyers’ Guide, showcasing our position as a trusted solution for enterprise organizations like Snowflake, the Commodities division of S&P Global, and Drata.
But we have a much bigger vision for what’s next.
Redefining revenue management for the modern enterprise
Revenue recognition has drastically changed over the last decade. We’ve seen guidance undergo three huge shifts: From SOP 97-2 to EITF 08-1 to ASC 606 and IFRS 15.
But even with this guidance in place, companies can still derive different accounting policies based on how they package, price, and deliver their products.
Complexity increases as businesses scale and diversify their offerings—even more so when you start adding usage-based (i.e. consumption) and hybrid business models to the mix. In the era of AI and agentic AI, these shifts in pricing are likely to become the rule rather than the exception.
Five years ago, none of the existing revenue automation solutions in the market could really adapt and solve for the needs of these complex business models. Back office workflows were crumbling under the weight of manual revenue recognition. And the stakes—for compliance and otherwise—were growing.
Someone needed to rethink how to provide what users and businesses needed. The demand for smarter automation in revenue systems continued to accelerate.
This is one of the main reasons why we started RightRev. Our purpose-built platform simplifies the complexities of revenue recognition, while delivering accuracy and huge efficiencies from automation and intelligence.
In this new era, revenue management is no longer only a back-office function—it’s a strategic capability.
RightRev’s Next Chapter
It’s been less than five years since we started building RightRev from a concept and a vision into the comprehensive platform it is today. We’re incredibly grateful to everyone who’s helped us set the bar for Revenue Management excellence along the way.
What excites me most about this next chapter is our move toward becoming a platform company—one that offers a range of high-impact products catering to the Office of the CFO.
Picture this: An impressive and ambitious product roadmap that aims to introduce disruptive functionality in the revenue space. We’ll move beyond automated revenue recognition to introduce capabilities that alleviate adjacent pains around data transformation, enhancing integrations with other Quote-to-Cash and ERP applications, reducing implementation timeframes, AI-powered capabilities to forecast revenue, and agentic workflows.
This may sound like a long list of lofty goals. But we’re already building on our momentum to make it happen.
Innovation and cutting-edge technologies and products are at the heart of RightRev. We pride ourselves on our ability to lead the market with innovative solutions backed by deep domain expertise.
This new funding will help us along this innovation journey:
- Deepening AI capabilities – Enhancing the accuracy and speed of data exchange between systems to further automate manual tasks and reduce implementation timelines.
- Addressing diverse industry needs – Extending the reach of the platform across more industries, increasing support for compliance with today’s revenue-related accounting standards as well as enhancing visibility into both current and future revenue streams.
- Accelerating market expansion – Scaling the sales, marketing, support and partnership teams to accelerate global adoption and increase RightRev’s brand awareness. By investing in go-to-market efforts and customer success, RightRev will deliver faster time-to-value and support the success of a growing base of enterprise customers navigating complex revenue operations.
The foundation of our adoption and growth has always been our customers, and they will always be the number one thing on our minds as we move forward. Whether you’ve been with RightRev since the beginning, or are just joining us in this new phase, thank you for your trust.
And of course, a huge thank you to everyone on this journey with us: Our amazing customers, talented team, our investors, and our board of advisors. This has been a rewarding ride, and we’re only continuing to grow across the business. See our open positions and join our team here.
The full press release can be found here.
Jagan Reddy,
CEO
RightRev
