About 170 Systems
170 Systems is a Technology company based in Bedford (United States) founded in 1990, and was acquired by Kofax in September 2009. Financial processes are automated and optimized by 170 Systems. 170 Systems has raised $14 million across 1 funding round from investors including Polaris Partners and Tungsten Automation. Its focus areas include FinTech, Finance & Accounting Tech, Accounting Solutions and Procure to Pay. Its legal entity is 170 Systems, Inc. Its competitors include Bill.com, AvidXchange and Zip; 3 of its 3 listed competitors have raised funding.
Company details
170 Systems was founded in 1990 in Bedford, United States, focusing on business process management software for financial operations. Solutions are offered to automate accounts payable, expense management, procurement, accounts receivable, general ledger, asset management, project re-billing, and human resources. The flagship 170 MarkView Financial Suite serves major clients including Bank of Montreal and Verizon Wireless. Acquisition by Kofax occurred in 2009.
- Headquarters Bedford, United States
- Stage Acquired
- SectorsTechnology
- Website ww25.170systems.com/?subid1=20250727-1605-48f8-a3c3-1fe02dbbcf2b
- Social LinkedIn
- Acquired by Kofax (Sep 2009)
- Legal Name 170 Systems, Inc
- Total Equity Funding$14M (USD)
in 1 rounds
- Latest Funding Round$14M (USD), Series A
Apr 2002
- InvestorsPolaris Partners
& 1 more
- Acquired byKofax
(Sep 2009)
Funding Insights of 170 Systems
170 Systems has successfully raised a total of $14M through 1 strategic funding round. The most recent funding activity was a Series A round of $14 million completed in April 2002. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $14M
- Total Rounds 1
- Last Round Series A — $14M
- First Round $14M
(Apr 2002)
- Investors Count 1
All 1 funding rounds of 170 Systems with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr 2002 | $14M | Series A | – | – |
2 investors in total: 2 institutional.
Investors in 170 Systems
170 Systems has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Polaris Partners and Tungsten Automation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
US focused venture capital firm | polarispartners.com | Boston, United States | ||
AI-powered workflow automation solutions are provided by Tungsten Automation. | kofax.com |
Investor details for 170 Systems
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Timeline of 170 Systems
3 dated milestones of 170 Systems across 19 years, from founding to its latest funding, stage changes and deals.
- Founded 170 Systems is founded.
- Funding First funding round of $14.0M.
- Exit Acquired by Kofax.
Competitors of 170 Systems
170 Systems has 3 listed competitors in our database, 3 of them funded. They include Bill.com, AvidXchange and Zip.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| bill.com | 2006 | Palo Alto, United States | $325.6M | 1,384 | Cloud-based accounts payable and receivable software for businesses | |
| avidxchange.com | 2000 | Charlotte, United States | $1.18B | 1,714 | Accounts payable and payment automation solutions are offered for businesses. | |
| ziphq.com | 2020 | San Francisco, United States | $358.15M | 218 | Cloud-based purchase approval management software is provided for businesses. |
Detailed competitors of 170 Systems
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Top companies in Finance & Accounting Applications
3 companies that operate in the same segment as 170 Systems (Finance & Accounting Applications) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 3,108 | |
Corporate travel and expense management are facilitated through SaaS platform. | 2015 | Palo Alto, California, United States | USD 1.58 B | USD 3.52 M | 847 | |
Financial and accounting software is developed for businesses and individuals. | 1983 | Mountain View, California, United States | USD 49.62 M | USD 21.45 B | 18,200 |
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Frequently Asked Questions about 170 Systems
170 Systems was founded in 1990 and raised its 1st funding round 12 years after it was founded.
170 Systems is headquartered in Bedford, United States.
170 Systems is a funded company, having raised a total of $14M across 1 funding round to date. The company's 1st funding round was a Series A of $14M, raised on Apr 2002.
170 Systems was founded in 1990 in Bedford, United States, focusing on business process management software for financial operations. Solutions are offered to automate accounts payable, expense management, procurement, accounts receivable, general ledger, asset management, project re-billing, and human resources. The flagship 170 MarkView Financial Suite serves major clients including Bank of Montreal and Verizon Wireless. Acquisition by Kofax occurred in 2009.
170 Systems's top competitors include Bill.com, AvidXchange and Zip.
170 Systems has 2 investors. Key investors include Polaris Partners, and Tungsten Automation.
170 Systems operates through 170 Systems, Inc.
Yes. 170 Systems was acquired by Kofax in September 2009.