WilmerHale Represents MineralTree in $50M Series D Funding Round and Acquisition of Regal Software
On September 24, 2020, MineralTree, an Accounts Payable (AP) and payments automation solution provider, announced that it has closed a $50 million Series D investment round with participation from existing investors Great Hill Partners, .406 Ventures and Eight Roads Ventures. In addition, MineralTree has acquired Regal Software, the Atlanta-based payment automation software, to further expand its market position in providing AP and payment automation to middle market companies.
The investment round and acquisition come at a time when MineralTree is seeing increasing demand for its solutions as businesses of all sizes are becoming focused on addressing both pandemic-related work-from-home and rising costs associated with manually processing invoices and B2B payments. The transactions announced by MineralTree equip the company with broadened product capabilities, partnerships and scale to serve the needs of a much larger portion of the middle market and up into the enterprise market. The strategic acquisition of Regal Software expands MineralTree’s ability to integrate with both bank and business financial systems.
The WilmerHale team representing MineralTree was led by Mick Bain and Gary Schall, and included Mark Nylen, Lauren Roberts, Sara Uz, Bill Caporizzo, Ben Kelsey, Julie Murphy, Mike Bevilacqua, Amy Null and Reade Jacob.