Vindicia Raises $20M For Billing Platform

By On November 2, 2010 · 2 Comments

Vindicia has raised a $20 million Series E round of investment funding lead by FTV Capital with participation from existing investors Bertelsmann Digital Media Investments, DCM, and ONSET Ventures. This round brings Vindicia’s total funding to $41 million. Vindicia offers online merchants solutions that enhance the scalability, flexibility, and compliance of their online billing services.

“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,”  said Gene Hoffman, Chairman and CEO of Vindicia, in a press statement.

Vindicia also markets subscription billing and fraud management solutions under the Software-as-a-Service model. Vindicia delivers its software solutions to companies in the online gaming, virtual worlds, social networking, and Internet dating space. Vindicia plans to use its funds to expand its sales, services, and marketing teams.

Major Vindicia clients include  Activision Blizzard and Cryptic Studios’s Atari-published MMOs. Other clients include the virtual world Arbopals and social game developer HitGrab. Vindicia also supports InComm’s CashBox service, which lets users pay subscription and other fees using InComm’s prepaid cards.

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2 Responses to Vindicia Raises $20M For Billing Platform

  1. Twitted by engageexpo says:
    November 2, 2010 at 12:12 am

    [...] This post was Twitted by engageexpo [...]

  2. Joe Wagner says:
    November 11, 2010 at 11:48 pm

    Their primary competitor, Zuora, just raised $20 million as well. While the market is certainly big enough for the two of them to thrive, it will be interesting to see if one wins outright.