IP Commerce, Inc., a Denver, Colorado-based provider of software that simplifies small business accounting, completed a Series A financing of undisclosed amount.
Backers included First Data Ventures, Intel Capital, Meritage Funds, Camp One Ventures, Augury Capital Partners and Service Provider Capital. As part of the financing, Peter Karpas, Global Head of SMB Solutions at First Data, joined IP Commerce’s board of directors.
The company will use the funds to expand its team and enhance the functionality of Commerce Sync.
Led by Charlie Wilson, President and CEO, IP Commerce provides Commerce Sync, which provides thousands of small businesses with accounting tools featuring automation and interoperability between front- and back-office systems.
The company distributes its software in collaboration with payments and commerce companies, including First Data, Square, Stripe and NCR. Commerce Sync provides automation and interoperability with accounting software, including QuickBooks® and Xero.