Billtrust, a provider of outsourced billing services, has grown by 50 percent each year since its 2001 founding. The Hamilton-based company announced last week it’s hired two new executives to push for more aggressive expansion.
“As we grow in size, our leadership positions need to grow as well,” said Flint Lane, CEO and founder, in prepared remarks. “These two new hires will round out our executive team to support the company in doing more aggressive things.”
Billtrust has hired financial services executive Bruno Perreault as senior vice president of its invoice central division. Perreault was formerly senior vice president and global group head for small business at MasterCard Worldwide, where he managed a team that doubled revenues in five years. Marilyne O’Hara has been brought on as vice president of acquisition integration; she formerly was director of M&A operations at Tyco Fire Protection Products, where she led the integration of a $130 million acquisition.
Billtrust serves more than 1,000 companies in seven states. It has 175 employees, with 50 of them joining in the last 12 months, and expects to reach 250 by this time next year. In November, Billtrust raised $25 million from Bain Capital Ventures, which the company plans to use to acquire one to two new companies each year.