RightRev
Achieve ASC 606 / IFRS 15 compliance, gain real-time financial insights, and automate revenue recognition for any business model with RightRev's scalable software.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor investor investor investor investor investor | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
* | $13.0m | Series A | |
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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RightRev is a financial technology startup that provides a scalable and automated revenue recognition solution. The company's primary focus is to help businesses achieve compliance with ASC 606 and IFRS 15 accounting standards. RightRev's software is designed to handle a vast volume of transactions, making it suitable for businesses of all sizes and across various industries.
The company's software operates in the financial technology market, serving clients who need to manage and recognize their revenue accurately. This includes businesses with different revenue models such as subscription, usage, services, or a hybrid of these. RightRev's software can process hundreds of millions of transactions in minutes, a performance unmatched by other solutions in the market.
RightRev's business model is based on providing automated revenue recognition solutions. The software ingests quote-to-cash transactions and runs revenue rules that comply with ASC 606 / IFRS 15. It is built on an API-first model, which means it can easily ingest data from upstream sources. The software automates revenue recognition using pre-defined rules and distributes revenue on a point-in-time or ratable basis.
One of the unique selling points of RightRev is its seamless integration with Salesforce. The company's Salesforce app requires zero integration and natively operates across all use cases supported by the Force.com platform. This allows businesses to run their revenue recognition process alongside Salesforce, autonomously executing calculations based on pre-defined rules within Salesforce.
In terms of revenue, RightRev likely makes money by charging its clients a fee for using its software. The fee could be based on the volume of transactions processed, the number of users, or a combination of both.
Keywords: Revenue Recognition, Financial Technology, ASC 606 Compliance, IFRS 15 Compliance, Automated Revenue Recognition, Scalable Solution, Salesforce Integration, Quote-to-Cash Transactions, API-first Model, Subscription Revenue Model.