Durham’s Spreedly has landed a $2.5 million equity round, according to a regulatory filing. The company, which developed a technology to secure online payments, has raised a total of $5.5 million thus far.
The company reported raising $500,000 in equity earlier in October via a previous filing.
The company web site says it is “Focused on helping marketplaces and platforms build the next wave of mobile and web apps connecting buyers and sellers.
It says it sees a future where the creators of platforms need a single service that is payment endpoint agnostic. It is focused on building a world class API service that companies like SeatGeek, Tango, Oxfam and Zomato are using to power the next wave of mobile commerce.”
According to a blog post on the company web site, the software-as-a-service technology aims to help customers with friendly mobile and self checkout tools.
Another blog post notes that in June, 28 months after the company launched its new service, more than $1 billion is being handled by the Spreedly platform annually.
The company’s tech enables marketplaces and platforms to securely create a credit card token that works across a broad range of payment endpoints.
It describes the process this way:
“One way to think of Spreedly Express is as a Hosted Payment Page. It is a drop-in payment form designed for quick and easy integration into any checkout page, all while exposing you to the least amount of PCI scope possible. The sensitive data is accepted, transmitted and stored through Spreedly and never touches your environment. Immediate form validation, visual feedback such as credit card brand icons and tooltips, and a simple design make the form intuitive and predictable to users.”
Spreedly reported the raise in a filing with the U.S. Securities and Exchange Commission: http://www.sec.gov/Archives/edgar/data/1579202/000146137315000049/xslFormDX01/primary_doc.xml
On the web: Read “Durham’s Spreedly speeds up with payments tech that ensures cybersecurity at out partner site, Exit Event: http://exitevent.com/article/spreedly-payment-security-startup-benson-credit-card-fraud-hack-150720