DocuPhase Announces Major Investment by Aquiline Capital Partners and Level Equity

DocuPhase is pleased to announce its recent investment by Capital Partners and Level Equity. To check out the original press release on PRNewswire you can visit here. 

NEW YORK, Feb. 20, 2024 /PRNewswire/ -- DocuPhase LLC ("DocuPhase" or "the Company"), a provider of accounting and finance process automation software, announces a majority investment from Aquiline Capital Partners LP ("Aquiline"), a private investment specialist in financial services and related technologies, and Level Equity, a private investment firm focused on high growth software businesses.

Based in Tampa, Florida, DocuPhase provides software solutions to over 1,200 customers that enable finance teams to streamline invoicing and payment procedures, saving time, reducing errors, and lowering costs. The Company provides core software solutions across accounts payable automation, accounts receivable automation, and document management.

The investment from Aquiline and Level Equity will allow DocuPhase to continue to drive strong organic growth, expand its product suite, improve its offering through investment in product innovation, and grow its recently launched vendor payments solution to better serve its customer base.

Dan Gaertner, CEO of DocuPhase said: "This investment in DocuPhase marks a significant milestone in our company. The infusion of capital validates our product's strength and potential while empowering us to accelerate our growth and expand our reach. I'm genuinely excited for our employees and our customers; having the combined support of Aquiline and Level Equity is a game changer for DocuPhase. We are poised to continue innovating and delivering exceptional value to our customers and creating additional career growth opportunities for our employees."

Joe Pappalardo, a Partner at Aquiline, commented: "In an increasingly digital world, it is imperative for finance departments to drive efficiencies through automation and adoption of best of breed software. DocuPhase's broad and robust suite of solutions drives real ROI for their customers, and has helped drive the Company's strong growth and retention. Aquiline is thrilled to partner with Dan and the DocuPhase team to execute our collective vision for the business."

Ben Levin, Co-Founder and CEO of Level Equity, commented: "Level is excited to make another investment focused on the office of the CFO where we see consistent and continued product innovation driving real business value.  Dan and his team have demonstrated the powerful ability to innovate and expand the product suite while simultaneously accelerating growth and profitability."

Leonis Partners served as the exclusive financial advisor to DocuPhase in the transaction.

About DocuPhase

DocuPhase is a leading provider of digital solutions designed to maximize business efficiency. Their document management, workflow and accounting automation, and payment solutions eliminate mundane workflows and shorten approval processes associated with purchase orders, sales orders, invoice captures, payment approvals, vendor management, employee onboarding, and more.

DocuPhase's innovative web-based applications have given companies across the globe the power to simplify their workflows and redirect their resources toward more strategic initiatives.

For more information, please visit www.docuphase.com

About Aquiline Capital Partners 

Aquiline Capital Partners LP is a private investment specialist based in New York, London, Philadelphia, and Greenwich, Connecticut, that invests across financial services and related technologies. The firm has $10.1 billion in assets under management as of September 30, 2023.

For more information about Aquiline, its investment professionals, and its portfolio companies, visit www.aquiline.com.

About Level Equity

Level Equity is a private investment firm focused on providing capital to rapidly growing software and technology-driven businesses. Level provides long term capital across all transaction types in support of continued growth. The firm has raised $3.0 billion in committed capital and has backed over 100 companies since inception. 

For more information about Level Equity, visit www.levelequity.com.

SOURCE Aquiline Capital Partners LP