Vindicia Raises $7.5 Million in Series D Financing

"Online merchants have come to realize that a subscription payment management solution is more than a back-end operational issue, it is a core business imperative that goes directly to the bottom line -- for example increasing customer retention rates by up to ten percent," said Gene Hoffman, Chairman and CEO of Vindicia. "The additional funding announced today will help us to continue to scale our services to meet the demand for this solution while achieving profitability. The expertise and experience offered by David and Keith will prove valuable assets as well."

Vindicia has established a track record of success across diverse online markets. The company counts market leaders including Symantec, Intuit, Atari/Cryptic Studios and Outspark among its customers, for whom it processes over 200,000 transactions a day, projecting over 73 million total in calendar year 2009. Vindicia is also in its fourth year of compliance with the critical PCI security standard and SAS 70 auditing standard.

"Gene and his team understand that online merchants require a payment infrastructure solution developed specifically to leverage the inherent advantages of digital media and services," said Lane. "During due diligence, my firm confirmed its belief that Vindicia is the clear market leader. With a strong business model, significant revenues, a long list of marquee customers including market leaders in software, gaming, dating and online content, and a top notch management team, the additional capital announced today positions Vindicia to continue its fast growth."