IP Commerce, a Denver, Colorado-based provider of a Platform-as-a-Service (PaaS) which functions as an OS for commerce, has raised $20.7m in growth capital.
The round was led by Intel Capital, with participation from existing investors Meritage Funds, Venrock, TTV Capital, Fifth Third Processing Solutions, LLC, and Iron Gate Capital.
The company intends to use the funding to further enhance the capabilities within the IP Commerce Platform and drive application developer adoption.
“We are thrilled to have Intel Capital as a new investor and a valuable collaborator in our efforts to broaden the availability of our platform, and commerce-enablement tools, to application developers and their customers,” said
Led by CEO Alfred “Chip” Kahn IV, IP Commerce provides a Platform-as-a-Service (PaaS) which functions as an OS for commerce and enables customer-driven application developers to create intelligent multi-channel commerce applications and payment workflows that allow retailers to support their customers across all touch points.