Top-name investors contributed to the round:
- First Data Ventures
- Intel Capital
- Meritage Funds
- Camp One Ventures
- Augury Capital Partners
- Service Provider Capital
The company’s flagship product, Commerce Sync, helps its 7,000+ small business clients eliminate manual data entry by syncing sales information with their accounting platform. IP Commerce holds partnerships with Clover, Stripe, Square, Quickbooks, and Xero.
IP Commerce company will use the funds to expand its workforce and enhance the functionality of Commerce Sync.
First Data’s Peter Karpas, global head of SMB Solutions, has been appointed to IP Commerce’s board of directors.
IP Commerce is based in Denver. The company debuted its Multi-party Payments Commerce Playlist at FinovateSpring 2012.