Vindicia, a Belmont, CA-based provider of strategic on-demand billing solutions that allow digital merchants to manages subscriptions and one-time payments, has secured $20m in series E financing.
The round was led by new investor FTV Capital, with participation from existing shareholders Bertelsmann Digital Media Investments – a wholly owned subsidiary of international media company Bertelsmann AG, DCM and ONSET Ventures.
This brings the total amount raised by the company to date to over $41m.
In conjunction with the funding, FTV Capital Partner Eric Byunn has joined Vindicia’s s board of directors. Mr. Byunn, who previously held roles at myCFO and Netscape, brings to the company his expertise in digital content and services.
Vindicia will use the new capital to further expand its sales, services and marketing teams.
Clients include leading companies across the software, gaming, dating and digital media/content industries. Among the others, the company serves Symantec, Intuit, Activision/Blizzard Entertainment, Atari/Cryptic, Fuel Industries, TransUnion Interactive and Encyclopædia Britannica.