April 12, 2021
DocuPhase acquires Payments Technology Company, Clearwater Payments

DocuPhase acquires Payments Technology Company, ClearwaterPayments Fast Growing Business Process Automation (BPA) company, DocuPhase acquires robust paymentstechnology platform, Clearwater Payments to bring a fully integrated end-to-end AP and A/R paymentautomation solution to market.

CLEARWATER, FL., APRIL 12, 2021 - DocuPhase announced today anothertechnology acquisition with Clearwater Payments, a cloud-based electronicbilling and payment solution provider located in Dallas, TX. ClearwaterPayments supports and processes millions of B2C and B2B payments forenterprise clients in banking, insurance, and utilities.

Since LoneTree Capital’s acquisition in June 2020, DocuPhase has investedover three million dollars in technology and talent to strengthen theirproduct offering to support record demand of organizations moving rapidly toautomate their business processes. On top of that investment the acquisitionof Clearwater Payments marks the second acquisition by DocuPhase in 2021.Earlier this month DocuPhase announced the acquisitions of TreenoSoftware. With the recent acquisition of Treeno and Clearwater, DocuPhasebecomes one of the few industry players to offer end-to-end payments withinthe A/R and AP automation marketplace.

“It is our mission to create an end-to-end accounting automation solution forour customers from the point of receiving an invoice, to intelligent scanning,data entry, and storage in their ERP system followed by completing theprocess with approval workflows resulting in fully automated electronicpayments.” said Dan Gaertner, CEO of DocuPhase. “The acquisition ofClearwater Payments gives us that final piece to complete the mission ofproviding a fully automated AP and A/R solution for our customers.”

CEO of Clearwater Payments, David Kesler, added, “We are extremelyexcited about our partnership with DocuPhase and LoneTree. When wefounded Clearwater, our primary objective was to provide our clients withbest-of-class electronic bill payment products and services. This partnershipallows us to not only continue that objective, but also enhances andimproves our client experience with the addition of DocuPhase’s processautomation and document management platform. This creates a paymentshub, managing both receivables and payables. That is a powerful offeringfor our clients.”

About DocuPhase: DocuPhase is a complete low-code/no-code browser-basedplatform that includes four core components — WorkflowAutomation, Document Management, Web Forms, and Capture Recognition — that delivers unmatched efficiency and unparalleled performance tocompanies around the world. Founded in 2000 inTampa Bay, FL, DocuPhasespecializes in automatingaccounting processes, purchase orders, salesorders, invoice capture, AP approvals, payments, vendor management, andother business processes. For further information, visit

About LoneTree Capital: LoneTree is a growth-focused private capital firm that provides flexible capital, M&A, and operational support to leading companies in high-growth sectors. LoneTree invests $5 million to $30 million per transaction into select sectors including software, digital infrastructure, healthcare IT / services, business and consumer services, and financial technology / specialty finance. For more information, please visit