Vindicia Raises Over $41M, Monetizing New Media Distribution
Vindicia is a well known provider of strategic on-demand billing solutions across the globe and maintained its position in the form of a leader in the industry. Just today the company announced that it has managed to raise $20 million more from the new investor “FTV Capital”, making the total amount to over $41 million.
Besides the new investor FTV Capital, the existing investors include Bertelsmann Digital Media Investments (BDMI), DCM and ONSET Ventures. While BDMI is a wholly owned subsidiary of Bertelsmann AG, DCM and ONSET specialize in venture capital.
“This additional funding is a testament to the market changing dynamics of online billing software,” said Gene Hoffman, Chairman and CEO of Vindicia. “Our ability to help clients collect otherwise lost revenue, to the tune of $45 million over the past year alone, highlights the business value we bring to our clients. This investment and the expertise that FTV brings to the board will accelerate our market penetration across these diverse digital markets.”
This funding will be used by Vindicia to expand its services, sales and marketing teams as well as to innovate its technology platform.
This type of services organizing new media into more structured delivery channels are of great interest to search engines, broadcasters, publishers and advertisers. Besides this, there is going to be a great deal of investment in companies like Vindicia.
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