Ordway, a billing and revenue management platform, announced on August 10, 2026, it has secured $20 million in combined equity and debt funding to accelerate its AI product development roadmap and expand into the payments sector.

The funding round was led by Harbert Growth Partners, with debt financing provided by Western Alliance Bank’s Innovation Banking Group. Ordway, which provides financial software for subscription and usage-based billing, accounts receivable, revenue recognition, and business KPI reporting, did not disclose the specific equity-to-debt split. The Washington DC-headquartered company, founded in 2018, reports that its recurring revenue has doubled over the past two years.

Sameer Gulati, founder and CEO of Ordway, stated that the company’s focus is on improving the “handoff from sales to finance,” which he described as “one of the messiest parts of the business.” With the new capital, Ordway plans to double its research and development budget to accelerate the build-out of its AI product roadmap.

The company intends to invest in AI agents designed to automate routine tasks such as updating billing, accounting, and investor key performance indicators (KPIs) following contract modifications, renewals, and pauses. Additionally, Ordway plans to enhance its reporting capabilities with AI-driven forecasting models for cash flows, customer churn, and revenue growth.

Alongside its funding announcement, Ordway has launched Ordway Payments, expanding its offerings into the payments space. This unified platform aims to eliminate the manual work and data fragmentation involved in processing payments, matching them to invoices, and reconciling revenue.