Billing Revolution gets $6.6 million is Series B funding
Mobile payment start-up Billing Revolution announced it received $6.6 million in Series B funding. The funding was led by DCM and SK Telecom Ventures. This is the second round of funding SK Telecom Ventures has participated in with Billing Revolution.
"We are grateful for the opportunity to partner with DCM and to continue our relationship with SK Telecom Ventures as we move the company to the next level," said Andy Kleitsch, founder and CEO of Billing Revolution, in the announcement. "We are actively working to expand our relationships with banks, global gaming publishers, handset OEMs, app stores, retail merchants and mobile operators, and this additional funding allows us to better serve our partners and provide a better user experience to mobile consumers."
Billing Revolution's payment platform provides a variety of mobile payment solutions including in-app billing solution for content providers and a mobile Web checkout product for use with digital as well as physical goods.
"When compared to carrier billing, Billing Revolution's proprietary technology creates almost 50 percent fewer clicks for the user," said David Chao, co-founder and general partner at DCM. "Less friction means more revenues for partners."
Rob Trice, senior managing director at SK Telecom Ventures, said, "With the current dynamic growth in mobile app and Web usage and with NFC soon to arrive, better approaches to mobile billing are needed. Billing Revolution's extensible IP platform is perfectly positioned to play a major role in defining and partnering in these new categories."
Billing Revolutions is based in Seattle and San Francisco.