Xerox Ventures Announces Investment in B2B Sales Platform Vartana24 January 2023
NORWALK, Conn., January 24, 2023, — Xerox Ventures, the corporate venture capital subsidiary of Xerox Holdings Corporation (NASDAQ: XRX), announced today its investment in Vartana, a B2B enterprise sales closing and financing platform. The company joined the $12M Series A round led by Mayfield, with continued investment from Flex Capital and Audacious Ventures.
With this investment, Xerox Ventures continues to grow its Empowered Businesses strategic focus area centered on startups accelerating the use of intelligent applications and managed services. Vartana’s platform provides managed checkout and flexible payment options for B2B mid-market & enterprise companies, digitizing and modernizing the sales closing process. B2B payment methods are still dominated by checks and Automated Checking Houses (ACH), creating unstructured communication channels, high operational labor across multiple systems, and manual, time-intensive reconciliation. By utilizing Vartana’s systems, enterprises can significantly decrease administrative burden, close deals fast, unlock deals blocked by budget hindrance and generate sustainable cash flow through pre-paid offerings.
“Vartana is well-positioned to create major change in an outdated B2B payments industry,” said Chris Fisher, managing partner of Xerox Ventures. “The team has proven experience in financing markets and scaling R&D operations, and their vendor retention amid uncertain economic conditions is admirable. We look forward to supporting Vartana as the company enters this new phase of growth.”
“Securing investment from the Xerox Ventures team will help enable us to expand our sales and engineering teams to support our increasing company growth,” said Kush Kella, co-founder and CEO, Vartana. “We appreciate the team’s partnership and support as we continue our platform development to provide the best and most streamlined processes for our customers.”
Learn more about Xerox Ventures.
About Xerox Ventures
Established in 2021 as the corporate venture capital fund for Xerox Holdings Corporation, Xerox Ventures invests in early and growth-stage startups that emphasize Connected Work, Empowered Businesses and Green Enterprise. The company’s mission is to accelerate disruptive change – whether that be through software, cleantech, the internet of things (IoT/IIoT), advanced manufacturing, fintech, cybersecurity, or other deeptech avenues (software or hardware). More than an investor, Xerox Ventures offers its portfolio companies access to customers, tech partnerships, R&D support, and Xerox’s own wealth of expertise at the intersection of digital and physical.
Based in the San Francisco Bay Area, Vartana is an all-in-one B2B enterprise sales closing and financing platform that simplifies how sales reps close deals and buyers pay by streamlining the closing process and eliminating payment term pushback. The company was founded in 2020 by Kush Kella and Ahmed Sharif. For more information, visit https://www.vartana.com.