What Company Is Offering:
IP Commerce offers a single-integration software platform and free development toolkits that allow for end-to-end commerce solution development and broader channel opportunities. The company’s IP Commerce Platform unites software companies and payment service providers – providing bankcard processing, remote deposit capture, ACH, wire, gift, stored value and many other services – with distribution channels in a dynamic new environment, allowing each to deliver a wide range of payment-enabled software solutions to business far more quickly, easily and securely than ever before. IP Commerce opens worlds of commerce.
How Much They Got From VCs:
IP Commerce, Inc., a software company delivering on-demand access to the next generation of commerce services, announced today it raised $17 million in Series C funding. The round was led by Venrock, the venture capital firm founded by the Rockefeller family. Total Technology Ventures joined Venrock as a new investor in IP Commerce. The Company’s existing investors, Meritage Funds, Appian Ventures and Iron Gate Capital also participated in the financing.
The latest round brings the Company’s total funding to date to more than $34 million and will be used to accelerate adoption of the IP Commerce Network, particularly in the software development community and the financial services industry. Proceeds will enable IP Commerce to continue to innovate so partners can reduce friction in enabling payment convergence, acquire new customers and increase revenue.
IP Commerce, launched in 2005, enables payment convergence through free development toolkits that allow for end-to-end commerce solution development. The IP Commerce Platform enables software companies, financial service providers and channels to seamlessly partner to enroll businesses in new, value-added electronic payment solutions.
More at:www.IPCommerce.com.
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