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Bill.com Raises $38 Million

Bill.com, which delivers invoicing services via the Internet, has received $38 million in financing. The round was led by new investor Scale Venture Partners. Among uses of the funds will be investment in the company's Banking Platform and the acceleration of its Business Payments Network.

The latest round brings the total invested in Bill.com to $80 million. Rory O'Driscoll, a partner with ScaleVP, has joined the Bill.com board of directors as part of the investment.

Also partipating in the funding were Bank of America, American Express, Fifth Third Bank, Pete Kight, founder of CheckFree, and Commerce Ventures, as well as previous investors - August Capital, Napier Park Global Capital, TTV Capital, Jafco Ventures, Emergence Capital and DCM.

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