Vindicia, a company that provides an on-demand billing platform, has raised $20 million in series E funding led by FTV Capital with existing investors Bertelsmann Digital Media Investments, DCM and ONSET Ventures participating in the round. This investment brings the company’s total funding to $41 million.
Vindicia supports online merchants with a number of solutions to enhance the scalability, flexibility and compliance of their online billing services. The company markets subscription billing and fraud management solutions under the Software-as-a-Service model, delivering its software products to companies in the online gaming, social networking, virtual world and Internet dating space
Vindicia says that it will use the new funding to expand its sales, services and marketing teams. Clients include Boxee, Symantec, Intuit, Activision/Blizzard Entertainment, Atari/Cryptic, Fuel Industries, TransUnion Interactive and Encyclopedia Britannica.