RightRev, a California-based startup specializing in automated revenue management solutions, has raised $13 million in a Series A funding round, taking its total funding to over $31 million. The round was co-led by Cheyenne Ventures and Innovius Capital, with continued support from existing investors including Norwest Venture Partners, Salesforce Ventures, and Snowflake Ventures.
This milestone comes shortly after RightRev was recognized as a leader in the 2024 MGI Research Automated Revenue Management Buyers’ Guide, affirming its position as a go-to solution for high-growth enterprises like Snowflake and Drata.
Powering Intelligent Revenue Recognition for the AI-Powered Enterprise
Founded by Jagan Reddy, RightRev is focused on solving one of the most complex financial operations challenges: accurate and intelligent revenue recognition. Its platform supports emerging business models including consumption-based, on-demand, and outcome-driven billing, which are increasingly adopted in today’s AI-driven digital economy.
“Revenue management has evolved into a strategic imperative,” said Reddy. “RightRev was built to simplify and automate revenue processes in a world where business models are constantly evolving.”
Strategic Investment to Fuel Growth and Innovation
The fresh capital will accelerate product development, expand go-to-market initiatives, and grow RightRev’s partner ecosystem, helping the company scale rapidly to meet growing enterprise demand.
Investors see massive potential in the platform. “RightRev transforms revenue recognition from a compliance task into a competitive advantage,” said Justin Moore, CEO at Innovius Capital. Scott Beechuk, Partner at Norwest, added, “With unmatched domain expertise, RightRev is setting a new standard in revenue automation for high-volume, AI-driven businesses.”