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PAYMENTS COMPANY RAISES $10 MILLION Featured

 Lockstep, which provides cloud-based AR and AP processing, has raised $10 million in Series A funding. Founded in 2019, the company offers the Lockstep Inbox and Lockstep Collect applications that hand invoices and also track customer communications.

Lockstep says it has more than 40 integrations including the various Sage and Dynamics ERP applications, along with Acumatica, Epicor and NetSuite. Investors in the seed round included  Avalara founder and CEO Scott McFarlane. Lockstep co-founder and CEO Peter Horadan was previously EVP of engineering and chief technology officer for Avalara from July 2013 through January 2018. He also spent nearly four years with Concur, which is now owned by SAP. Co-founder and chief strategy officer Matthew Shanahan was previously chief operating and strategy officer for Globys from September 2016 through December 2018. The two both worked at Scout Analytics, which was acquired by ServiceSource in January 2014. Harodon was SVP of engineer and client services there from July 2006 through June 2013 and Shanahan was SVP of strategy from December 2007. The latest round of funding was   led by Point72 Ventures with participation from Clocktower Ventures and Revel Partners.

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