ClearCommerce Raises $9.5 Million
AUSTIN, Texas, Sept. 17 /PRNewswire/ -- ClearCommerce Corporation, a leading provider of transaction processing and fraud protection software for e-commerce, today announced it has secured $9.5 million in Series D funding. Existing investors include Austin Ventures, New Enterprise Associates, Voyager Capital, Financial Technology Ventures, Hewlett-Packard, Intel Capital, and Internet Capital Group. All of its existing investors contributed to the round, as did VeriSign (Nasdaq: VRSN), the world's largest provider of Interntrust services.
This round brings ClearCommerce's total funding to date to $54.5 million. With more than 40,000 merchants worldwide using its software, ClearCommerce is on track to reach profitability soon.
"Recognizing that the current funding environment is challenging, having all of our existing investors make follow-on investments is a significant win for ClearCommerce," said Robert J. Lynch, president and chief executive officer of ClearCommerce.
"Through our involvement with ClearCommerce over the past several years, we have seen first-hand how attractive their business model is to online merchants and the financial community," said Joe Aragona of Austin Ventures. "Enterprise merchants want to own their software which is why ClearCommerce is succeeding. Since the beginning of 2001, ClearCommerce has executed on a pattern of competitive take-aways as enterprise businesses look to migrate to a "next generation" system. It is the companies that have a proven business model and large, brand-name accounts that are able to raise money in this difficult market."
About ClearCommerce Corp.
Austin, Texas-based ClearCommerce is a provider of e-commerce transaction software and services for enterprises and Commerce Service Providers, including Apple Computer, Sony, Harrods, Chase Merchant Services, PETsMART.com and EDS. ClearCommerce provides transaction management technology directly and indirectly through Commerce Service Providers for merchants worldwide. Providing the ClearCommerce Engine to more than 40,000 merchants, features of the company's software include real-time credit card processing and Internet fraud protection, as well as online reports, storefront integration, back-end integration and shipping/tax calculation. For more information, please visit www.clearcommerce.com.
For more information on ClearCommerce, please contact:
Alison McMillon or Michael Staley
Springbok Cohn & Wolfe ClearCommerce Corp.
972-480-9458, x185 512-977-5418