LockStep
Founded Year
2019Stage
Acquired | AcquiredTotal Raised
$12.5MAbout LockStep
LockStep develops accounting software solutions. It manages and automates receivables and payables workflows in one place. It enables fintech developers and accounting teams to save time, eliminate human error and improve cash flows. It was founded in 2019 and is based in Seattle, Washington. In August 2022, LockStep was acquired by Sage.
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LockStep's Product Videos
LockStep's Products & Differentiators
AR Automation
Award-winning Lockstep improves cashflow, decreases DSO and increases working capital through accounts receivable automation. Key Lockstep Receivables features include: automated customer communications, collections activity management, customer self-service, cash application management, and forecasting and reporting.
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Expert Collections containing LockStep
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
LockStep is included in 1 Expert Collection, including Fintech.
Fintech
8,123 items
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
LockStep Patents
LockStep has filed 4 patents.
Application Date | Grant Date | Title | Related Topics | Status |
|---|---|---|---|---|
2/24/2014 | 12/25/2018 | Key management, Cryptography, Public key infrastructure, Transport Layer Security, Cryptographic protocols | Grant |
Application Date | 2/24/2014 |
|---|---|
Grant Date | 12/25/2018 |
Title | |
Related Topics | Key management, Cryptography, Public key infrastructure, Transport Layer Security, Cryptographic protocols |
Status | Grant |
Latest LockStep News
Apr 21, 2023
Lockstep augments payment acceptance with Self-Service portal Friday 21 April 2023 10:51 CET | News US-based accounting network Lockstep has that its new Self-Service portal allows companies to accept payments online using Stripe, PayPal, or the processor of their choice. Combined with Lockstep Inbox, Lockstep Self-Service – a new application in the Lockstep Suite – is a free solution that allows users’ companies to manage their AR and AP workflows in one place. Companies can give customers online access by sending an email containing a Lockstep Self-Service magic link. Once customers use the magic link, they can see their statement, individual invoices, past history, and now make payments. There are clear and simple options to pay multiple invoices or partial amounts. Once paid, the payment information is tracked and applied against the open balances of the invoices to automate the recording of payments. Simplifying accounting and accelerating payments Officials from Lockstep said that a major pain point for B2B companies is the lack of a cost-effective, automated ecommerce solution to accelerate payments. By activating payments in Lockstep Self-Service, they are furthering their vision of connected accounting by helping companies automate the collections and cash application while improving the customer experience. In addition to making it easy for customers to pay, Lockstep Self-Service gives tools for accounting departments to track adoption of online payments with analytics. Signing up for Lockstep Self-Service is easy as it connects directly into the user’s ERP and integrates with Lockstep Inbox. In addition to payments, Lockstep Self-Service is introducing a new customer analytics feature. What does Lockstep do? Lockstep is a connected accounting network that automates accounting workflows between companies. The pioneer in Connected Accounting, Lockstep allows accounts receivable (AR) and accounts payable (AP) teams to automate all their receivables and payables workflows in one place, improving productivity, cash flow, and working capital.
LockStep Frequently Asked Questions (FAQ)
When was LockStep founded?
LockStep was founded in 2019.
Where is LockStep's headquarters?
LockStep's headquarters is located at 113 Cherry Street, Seattle.
What is LockStep's latest funding round?
LockStep's latest funding round is Acquired.
How much did LockStep raise?
LockStep raised a total of $12.5M.
Who are the investors of LockStep?
Investors of LockStep include Sage, American Express Ventures, Point72 Ventures, Clocktower Technology Ventures, Revel Partners and 11 more.
Who are LockStep's competitors?
Competitors of LockStep include HighRadius and 4 more.
What products does LockStep offer?
LockStep's products include AR Automation.
Who are LockStep's customers?
Customers of LockStep include Avenu Insights, The Elks , MarVista and Amspec.
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Compare LockStep to Competitors
Gaviti operates as a software-as-a-service company offerimg receivable collection management solutions. It specializes in receivable collections acceleration and its system maps out the collection process to spot inefficiencies and optimize clients' procedures. It was founded in 2017 and is based in Tel Aviv, Israel.
Cforia Software is a digital transformation partner that operates in the financial technology sector. The company offers an integrated platform that automates and digitalizes the order-to-cash (O2C) process, including collections, disputes and deductions, cash application, and credit. Its services are primarily utilized by global firms in the financial operations sector. It was founded in 2001 and is based in Westlake Village, California.
Global PayEX is an Accounts Receivable automation solution provider. With AI-powered AR Automation tools like Electronic Invoicing, Presentment & Payments Management, Cash Application, Embedded Channel Finance, and ML Data Extraction, Global PayEX enables companies to get paid faster, eliminate tedious manual AR work, and improve customers’ experience. Offering an end-to-end native-cloud solution, this JP Morgan-backed SaaS company enables finance teams to optimize working capital and remove inefficiencies from Accounts Receivable. Global PayEx was founded in 2011 and is based in Rockville, MD
Billtrust (NASDAQ: BTRS) provides automated order-to-cash solutions. It offers cash application solutions, e-commerce, invoicing, payments, and more. The company serves transportation, machinery, distribution, manufacturing, medical equipment, technology, legal, and staffing industries. The company was founded in 2001 and is based in Lawrenceville, New Jersey.
Streamlined operates as a financial services company. It offers a business-to-business invoicing platform. It specializes in invoicing, payments, automatic tracking of receivables, and more. The company was founded in 2020 and is based in San Francisco, California.
Fintainium focuses on financial technology, specifically in the business payables and receivables sector. The company offers a platform that provides solutions for cash flow management, embedded payments, mass disbursements, and lending, aiming to simplify problems in business payables and receivables. It primarily serves sectors such as small-to-medium-sized businesses, financial institutions, financial technology companies, software companies, and accounting firms. It was formerly known as ePayRails. It was founded in 2018 and is based in Jacksonville, Florida.
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