EvolutionCBS helps Rimilia raises $25m growth funding
Rimilia is leading SaaS-based intelligent automation company serving finance functions of global enterprises. Its award-winning solutions are at the cognitive end of Robotic Process Automation (RPA) spectrum; highly intuitive and self-learning.
The company was founded in 2008 and, with a robust business model and a clear growth strategy, began developing its ground-breaking cash allocation software, Alloc8 Cash, which revolutionised the way cash payments were processed and allocated.
Highly innovative, Rimilia had a strong commitment to developing next generation solutions. Building on the success of Alloc8 Cash, it went on to develop a comprehensive suite of services for Collections, Bank Reconciliation and Cash Forecasting, under the Alloc8 brand.
Rimilia’s software engineering is years ahead of anything else on the market. In order to leverage that strength the company’s business model centred on developing market leading solutions to create a recurring revenue stream from licensing its software.
The success of this strategy was evidenced by Rimilia’s consistently strong financial performance, which enabled the shareholders to invest in building the capability and capacity that would ensure its growth.
The shareholders exit strategy was to sell the business once it had reached an Enterprise Value of c.£20million.
