Westborough-based software firm Connectbase has purchased Virginia-based Cloud Age, a company focused on the processing of telecom bills.
The acquisition comes after Connectbase received an undisclosed investment from a Boston-based equity firm to support its growth.
The investment and acquisition will allow Connectbase, a firm focused on helping businesses find and buy telecom and internet services, to provide billing and other support services to firms, according to a Dec. 2 press release about the acquisition.
“Cloud Age has led the way in transforming raw invoice data into actionable insights and transformative outcomes,” Ben Edmond, CEO and founder of Connectbase, said in the press release. “By combining that with Connectbase’s discovery and quoting engine, we are closing the loop, enabling our ecosystem to operate with speed, accuracy, and transparency from discovery to quote to cash.”
The investment amount by Equality Asset Management was undisclosed but described in the press release as significant. Focused on investments in growing software firms, EAM typically invests between $25 million and $150 million in equity for companies it adds to its portfolio, according to its website.
Other companies EAM has invested in include Evention, a Chicago firm focused on automation software for hospitality and retail clients, and Mindoula, a Maryland software company focused on providers of behavioral health services.
Cloud Age has 11 employees and was founded in 2005, according to PitchBook. The company helps service providers lower operations costs with its software and billing data extraction capabilities.
ConnectBase was founded in 2015 and has about 130 employees. The company was #2,538 on Inc. magazine’s 2025 list of the fastest-growing companies in the United States, making it the sixth-fastest growing company in Central Massachusetts.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.
