CollBox

CollBox offers a technology-driven solution for accounts receivable (A/R) management, targeting small to medium-sized businesses, with a notable focus on law firms. Founded in 2015 by Cameron Desautels (CEO), Matt Darner, and Ed Luczycki, the Austin-based company aims to resolve cash flow problems caused by past-due invoices. The founders identified a critical need among small businesses that lack the resources or expertise for effective debt collection. Matt Darner, with a background in leveraging data for business growth, and his co-founder, who handles engineering, developed a platform to streamline the collections process.

The company operates on a subscription-based model, providing outsourced A/R specialists who conduct follow-ups on delinquent accounts through emails and phone calls. Pricing is structured in tiers based on the number of clients a firm invoices monthly. For more persistent debts, typically over 90 days past due, CollBox offers a contingency-based service, connecting clients with a network of vetted collection agencies. The fee for this service is a percentage of the amount recovered, usually between 25-35%. This dual approach allows businesses to choose a softer touch for recent invoices and a more formal collections process for older debts.

CollBox's core offering is an application that integrates directly with major accounting software, including QuickBooks, Xero, Sage, FreshBooks, Clio, and Smokeball. This integration automates the identification of overdue invoices, allowing for a seamless handoff to the CollBox team or a partner agency. The platform provides clients with analytics and real-time data to monitor the health of their accounts receivable. By handling the complexities of chasing payments, the service enables business owners to focus on their primary operations. The company secured $1 million in a seed funding round in late 2019, led by Bala Investments, to expand its operations.

Keywords: accounts receivable management, invoice collection, debt recovery, small business finance, legal tech, law firm A/R, cash flow solutions, outsourced collections, bookkeeping integration, financial technology, past-due invoices, revenue recovery, automated reminders, collection agency network, QuickBooks integration, Xero integration, Clio integration, Cameron Desautels, Matt Darner, professional services collections