DocuPhase Acquires Clearwater Payments
Summary
Since LoneTree Capital’s acquisition in June 2020, DocuPhase has now invested over three million dollars in technology and talent, intending to strengthen their product offering. The acquisition of Clearwater is the second performed by DocuPhase this year, as earlier this month it also acquired Treeno Software. “It is our mission to create an end-to-end accounting automation solution for our customers from the point of receiving an invoice to intelligent scanning, data entry and storage in their ERP system followed by completing the process with approval workflows resulting in fully automated electronic payments,” said Dan Gaertner, CEO of DocuPhase. “The acquisition of Clearwater Payments gives us that final piece to complete the mission,” one where they can provide a fully automated AP and AR solution for their customers. “This partnership allows us to not only continue that objective but also enhances and improves our client experience with the addition of DocuPhase’s process automation and document management platform,” he said, according to the release.
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