Vindicia Secures $20 Million in Series E Financing
01 11월 2010 - 10:00PM
Marketwired
Vindicia, a leading provider of strategic on-demand billing
solutions, today announced it has secured $20 million in series E
financing, bringing the total amount raised to over $41 million.
New investor FTV Capital led the financing in partnership with
existing investors Bertelsmann Digital Media Investments (BDMI) --
a wholly owned subsidiary of Bertelsmann AG, a leading
international media company -- DCM and ONSET Ventures. The company
also announced that FTV Capital Partner Eric Byunn has joined its
board of directors. Byunn brings expertise in digital content and
services and held prior roles at myCFO and Netscape.
Vindicia will use this latest round of capital to further expand
its sales, services and marketing teams and the success it has
already established for its clients and market leaders across the
software, gaming, dating and digital media/content industries
including Symantec, Intuit, Activision/Blizzard Entertainment,
Atari/Cryptic, Fuel Industries, TransUnion Interactive and
Encyclopædia Britannica. The company is also in its fifth year of
compliance with the critical PCI security standard and SAS 70
auditing standard.
"Vindicia is the clear leader in a rapidly growing market,
offering a highly differentiated solution that delivers
demonstrable ROI by understanding the relevance of billing and
payments to the sales and marketing efforts of digital merchants,"
said Byunn. "The company has a highly talented management team and
a robust technology platform, and has proven it can successfully
innovate and execute to serve the sophisticated billing and
subscription needs of its clients."
"This additional funding is a testament to the market changing
dynamics of online billing software," said Gene Hoffman, Chairman
and CEO of Vindicia. "Our ability to help clients collect otherwise
lost revenue, to the tune of $45 million over the past year alone,
highlights the business value we bring to our clients. This
investment and the expertise that FTV brings to the board will
accelerate our market penetration across these diverse digital
markets."
About FTV Capital FTV Capital is a
multi-stage private equity firm that invests in high-growth
companies offering a range of innovative solutions. FTV Capital
provides entrepreneurs with unique access to its Global Partner
Network, a group of the world's foremost financial institutions
that have invested in FTV Capital and its portfolio companies for
more than a decade. Founded in 1998, FTV Capital has more than $1
billion under management and has offices in San Francisco and New
York. For more information, please visit www.ftvcapital.com.
About Bertelsmann Digital Media Investments
(BDMI) Bertelsmann Digital Media Investments (BDMI) is a
strategic venture investor focused on innovative digital media
technologies, products and distribution channels across the globe.
BDMI is a wholly owned subsidiary of Bertelsmann AG, a leading
international media company with over $22 billion in revenues and
over 100,000 employees across more than 50 countries. For more
information, visit: www.bdmifund.com.
Bertelsmann AG is an international media company encompassing
television (RTL Group), book publishing (Random House), magazine
publishing (Gruner + Jahr), media services (Arvato), and media
clubs (Direct Group) in more than 50 countries. Bertelsmann's claim
is to inspire people around the world with first-class media and
communications offerings -- entertainment, information and services
-- and occupy leading positions in its respective markets. The
foundation of Bertelsmann's success is a corporate culture based on
partnership, entrepreneurial spirit, creativity, and corporate
responsibility. The company strives to bring creative new ideas to
market and create value. For more information, visit:
www.bertelsmann.com.
About DCM DCM is an early stage venture
capital firm that has been helping entrepreneurs build world-class
technology companies since 1996. The firm's partners manage five
funds totaling US$2 billion, and have made investments in more than
120 technology companies across the United States and Asia. With
offices in Silicon Valley, Beijing and Tokyo, DCM provides hands-on
operational guidance and a vast network of business and financial
resources to its portfolio companies globally.
DCM's portfolio-company investments have resulted in a large
number of successful exits including 18 IPOs on seven major
exchanges, and 14 acquisitions since inception, including: PGP
(acquired by Symantec), 51job (NASDAQ: JOBS), About.com (acquired
by The New York Times Co.), Clearwire (NASDAQ: CLWR), eDreams
(acquired by TA), Fortinet (NASDAQ: FTNT), Foundry Networks
(NASDAQ: FDRY), HireRight (NASDAQ: HIRE), PayCycle (acquired by
Intuit), Recourse Technologies (acquired by Symantec), Sling Media
(acquired by EchoStar), and SMIC (NYSE: SMI). Recent successes
include Neutral Tandem, a startup funded by DCM in 2004 that traded
at a market cap of over $1B on the NASDAQ in 2009, and VanceInfo,
recently ranked the number one performing stock by Investor's
Business Daily.
About ONSET Ventures ONSET Ventures
specializes in providing an ideal mix of start-up, follow-on, and
intellectual capital to entrepreneurs and early-stage technology
ventures, to help transform world-class ideas into sustainable and
valuable businesses, through a process of "venture craftsmanship."
The firm has backed over 100 companies since 1984 and now has more
than $1 billion under management. ONSET Ventures' craftsmanship,
refined over 27 years, includes a highly-optimized tool set for
risk and capital management, and a shirt-sleeves style of active
collaboration with entrepreneurs that leverages the firm's
substantial operating experience. That collaboration frequently
begins before the closing of any financing, and typically continues
throughout the life of the venture. This approach, which has become
the hallmark of the firm, has resulted in a crafting of ventures
that have consistently met their operational and financing
milestones. In addition, it has resulted in a franchise that not
only brings successful, serial entrepreneurs back to ONSET Ventures
time and again, but also attracts investors who want the
increasingly rare opportunity to participate in very early stage
venture investing. ONSET Ventures focuses exclusively on
information and medical technology-based start-ups and has a long
history of successful ventures in each of these sectors.
About Vindicia Vindicia offers an
on-demand strategic billing solution for marketing and sales that
manages subscriptions and one-time payments for digital merchants.
We work with some of the best-known brands on the Internet,
including Symantec, Activision Blizzard, Intuit, and Atari/Cryptic.
As an externally audited PCI Service Provider and a SAS 70 Type II
company, Vindicia securely handles online revenue of over a billion
dollars annually. For more information, visit
http://www.vindicia.com.
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Contacts: Sanjay Sarathy Vindicia, Inc. 650-522-4490
Email Contact Juli Greenwood CHEN PR 781-672-3137 Email Contact
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