Anchor offers a specialized, Autonomous Billing & Collections platform, completely automating the accounts receivable process by reinventing proposals and agreement management. With Anchor, companies find their profits increased by over 30%, revenue loss reduced from over 5% to under 1%, and the time to sign an agreement decreased from over 45 days to less than 24 hours
Anchor, the free-to-use Autonomous Billing & Collections platform, has announced it has raised a $20 million Series A funding round, led by Mosaic General Partnership (past investments include Uber, Robinhood, Mercury, Taboola, Hippo and Coinbase) and Oren Zeev from Zeev Ventures (past investments include Audible, Houzz, Duda and Next Insurance). Existing investors, including Entrée Capital and Tal Ventures participated, alongside new investors Amy Banse, who will be joining Anchor’s board, and currently serves as board member at Adobe and ON running, Tien Tzuo, Founder and CEO of Zuora, former NBA superstar Andre Iguodala (through Mosaic General Partnership), and other industry leaders. With this latest funding, Anchor plans to double its workforce in the next year, accelerate its US market presence, and deepen strategic partnerships, building on the company’s over 500% growth in 2024.
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Cash flow can be volatile for small and medium businesses (SMBs). Half of US B2B invoices are currently overdue, and 60% of SMBs struggle with delayed payments, damaging the foundational stability of any enterprise. Outdated, manual systems that SMBs rely on exacerbate the already fraught task of signing contracts and collecting payments on time. Anchor’s platform is the first of its kind to deliver a fully integrated, digital-first approach to managing proposals, agreements, invoicing, billing, and payments – all at no upfront cost to the customer.
At the core of Anchor’s solution is the move away from rigid, PDF-based manual workflows to digitally native and interactive proposals and agreements. This foundational shift enables unparalleled simplicity, flexibility, and certainty from the very first step of the transaction journey. Traditional workflows can involve up to 50 steps, resulting in errors, fraud, delays, and inefficiencies. Anchor digitizes and consolidates every step into one seamless system. Anchor’s customers often see a more than 30% increase in profits, reduction in revenue losses from over 5% to under 1%, and a reduction in agreement signing time from over 45 days to less than 24 hours.
“Small businesses are the beating heart of the economy, and yet too many are becoming casualties to the unnecessary manual work associated with invoicing and payments. Existing solutions can’t address the current payment challenges because they are shackled to the limiting legacy of the non-dynamic PDF era. Anchor brings a truly innovative approach, leaving behind outdated processes,” said Rom Lakritz, CEO & Co-Founder of Anchor. “We are fortunate to have industry leaders as investors supporting us on this journey, as we continue to deliver value, not just to businesses but to the broader economy they are part of.”
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Anchor serves US professional service businesses, with particular strength in accounting, bookkeeping, and tax firms. With its sophisticated functionality and innovative platform, Anchor is revolutionizing how businesses operate while also presenting a radical pricing model with tremendous benefits for customers. As the only free-to-use product, with no monthly subscription or processing fees, and only a flat $5 fee per transaction, Anchor is moving away from the outmoded approach of taking a percentage of the payment being processed. Built around a vision of getting paid only when its customers are paid, Anchor is making it easier and fairer for businesses when managing their payments and invoices.
“By transforming customer operations away from file-based point solutions to a digital-based end-to-end system, Anchor is radically improving customer efficiency, resulting in dramatic expense reduction, revenue growth and cash flow improvement. Anchor’s solution will materially improve the survival rates of small and medium businesses, driving economic growth on a broader scale,” said Sam Landman from Mosaic General Partnerships. “After witnessing their exponential growth, and hearing the intense customer love for the product, we couldn’t be more delighted to join Anchor in order to fully realize their vision.”
With tremendous growth of over 500% in 2024, the company is poised to help tens of thousands of businesses combat inefficiencies and unlock new potential. By reinventing how businesses manage time and money, Anchor is building a future where every business, no matter its size, can thrive.
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Source – PR Newswire
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