General Atlantic and Summit Partners invested in Invoice Cloud.

General Atlantic and Summit Partners invested in Invoice Cloud, a leading Software as a Service provider of vertical software, billing, and payments solutions. General Atlantic, which will become the majority shareholder, will invest in Invoice Cloud alongside existing shareholder Summit Partners and Invoice Cloud management to help fuel the company’s next stage of growth. Financial terms were not disclosed. “Invoice Cloud has proven itself as a clear leader in vertical payments and billing automation by providing an innovative product suite that helps its customers improve client engagement and automate business processes. The company has experienced substantial growth to date and is poised to achieve significant scale by leveraging its strong team and world-class technology,” said Jon Korngold, Managing Director and Global Head of General Atlantic's Financial Services Sector.