FastSpring, a Santa Barbara, California-based provider of a cloud-based ecommerce and subscription billing platform, received a majority equity investment from Accel-KKR.
The amount of the deal was not disclosed.
The new partnership will provide capital and resources to make continued investments in technology and commercialization initiatives.
Founded in 2005 and led by Chris Lueck, CEO, FastSpring provides SaaS, software and digital content companies with a subscription-based platform offering payment processing, recurring billing and other value-added modules to enable efficient global commerce of digital products.
Thousands of companies use the digital commerce platform to manage their online stores and subscriptions and to sell globally by providing a localized experience for businesses and consumers.