Monexa Services Inc.

Monexa Services Inc.

December 09, 2013 09:00 ET

Monexa and Yaletown Venture Partners Close Equity Financing Round

Additional Funding Further Strengthens Monexa's Leadership Position in the Enterprise Billing and Commerce Market

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 9, 2013) - Monexa Services Inc. (Monexa), a pioneer of SaaS Enterprise Billing and Commerce solutions, today announced it has received funding from early stage cleantech and information technology investors, Yaletown Venture Partners. In addition, the company has appointed Yaletown partner, Brad Johns, to its Board of Directors.

Monexa has worked aggressively to capture market leadership with record business results this past year, delivering its best-in-class cloud-based Enterprise Billing and Commerce platform to a growing list of clients. Earlier in the year, Monexa successfully secured financing from Ansera Capital Partners, which helped boost its profile among investors. As growth capital, this additional round of funding is expected to further position Monexa as the leading innovator within the complex, enterprise billing and commerce market and widen the gap with key competitors.

In 2013, Monexa realized a number of major goals, including the recent launch of its latest platform, the next-generation Version 05_34 featuring state of the art enhancements, as well as the recruitment of several key executives to its leadership team. These achievements, part of Monexa's strategic growth plan, have now strengthened the company competitively as it looks to deepen an already well-established market leadership position, especially among B2B organizations with significant complexity in their businesses.

"I'm looking forward to working with the exceptional management team at Monexa," said Brad Johns, partner, Yaletown Venture Partners. "The company has achieved significant breakthroughs this year which have taken its product set and technology platform to the next level. These breakthroughs, alongside their modern, flexible solutions for business, make them a hugely competitive player in the industry right now."

"We couldn't be more thrilled to have Yaletown backing us today," said Barry Yates, Monexa president and chief executive officer. "The firm has a solid track record for recognizing the game-changers of the industry and providing them with knowledgeable support to have an impact in the marketplace. In addition, having Brad, with his 24 years of experience in business development and private equity within IT, join the board gives us added confidence that we're headed towards great opportunities."

About Monexa Services Inc.

Founded in 1998, Monexa is in the business of helping organizations drive results and reduce complexity through smarter enterprise billing. Monexa provides more timely, transparent and customer friendly billing solutions that enable organizations to react quickly to market changes while transforming billing into an innovative and positive experience for their customers. For more information, please visit www.monexa.com.

About Yaletown Venture Partners - www.yaletown.com

Yaletown Venture Partners is headquartered in Vancouver with offices in Calgary and Seattle. Yaletown is backed by leading institutional investors and a network of successful technology entrepreneurs, executives, and angel investors. Yaletown leverages an extensive on-the-ground network to seek out the most promising early stage Cleantech and IT companies. Founded in 2002, Yaletown is led by a team that brings together industry relationships and more than 120 years collective experience building and financing technology companies.

Additional Funding Further Strengthens Monexa's Leadership Position in the Enterprise Billing and Commerce Market

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