Software maker Transverse raises $25M from German PE firm

Oct 30, 2014
Austin Business Journal

Software maker Transverse LLC has completed a $25 million Series B round of financing

The Austin-based company disclosed Wednesday that it plans to use the capital to improve its billing software called Tract. German private equity firm Siedentopf KG was the lone investor

Transverse, founded in 2008, develops software designed to enable companies with subscription and activity-based business models to automate billing. The company employed 50 workers in 2012

The funding increases to $47 million the total amount of investment capital Transverse has collected since launching

In April 2012, the company announced that it received a $22 million financing from a syndicate of German investors that included Siedentopf

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