Bluegill Technologies
Remittance Solutions, Lockbox Payment Processing | Fiserv
About Bluegill Technologies
In the late 90s, at the dawn of the internet's commercial boom, a company from Ann Arbor, Michigan, named Bluegill Technologies was founded by Hal Davis. Their focus was squarely on a problem that businesses were just beginning to face: how to move complex billing and statement systems online. Bluegill developed software that could take legacy data and transform it for the internet, enabling companies to present bills and other customer documents online. Their timing and technology were right. As more of the financial world looked to digitize, Bluegill's solutions became increasingly vital. They provided the tools for banks, internet portals, and other businesses to accelerate their adoption of internet billing. The company gained traction not just in North America, with an office in Toronto, but also expanded its reach to a growing customer base in Europe and South America. A significant chapter in Bluegill's story was written in December 1999, when electronic payment giant CheckFree Holdings announced it would acquire the company for $250 million in stock. The move was strategic for CheckFree, allowing it to integrate Bluegill's advanced, open standards-based software to create a more complete and simplified internet billing offering. The acquisition, which closed in early 2000, marked a successful exit for the Ann Arbor firm, folding its 100 employees and innovative technology into CheckFree's larger vision for the future of electronic commerce.
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Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| LATE VC✓Equity / VC | Dec 1999 | $20M | $78M | FTV Capital | — |
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FTV Capital
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