With sales of 5.8 million shares at $19.75 per share, virtual banking solution-provider Q2 Holdings raised $116 million in capital.

The company itself sold 1.75 million shares, bringing in $34.6 million in new capital. In addition, existing shareholders sold 4.13 million shares. The funding, according to the Austin Business Journal, will provide Q2 with “working capital, including possible acquisitions.”

Formerly Q2ebanking, Q2 Holdings operated through its subsidiary, Q2 Software. The company went public in March 2014, raising $101 million. That year, Q2 had $79 million in revenue and 500 employees.

This month, Q2 announced revenues of just over $22 million, for a 41% year-over-year gain. Q2 CEO Matt Flake called the report “a strong finish to a fantastic year.”

Q2 Holdings trades on the New York Stock Exchange under the ticker symbol “QTWO” and is valued at more than $700 million.

The company made headlines in September 2014 with news that Heartland Financial USA was making a 10-bank deployment of Q2’s online banking platform. Based in Austin, Texas, Q2 demoed its risk and fraud analytics technology at FinovateSpring 2011 in San Francisco.

Ten of Heartland Financial USA’s banks have implemented the online banking platform developed by Q2 Holdings according to an announcement Tuesday morning.

The implementation of the Q2platform took place over the five months between April and August. Matt Flake, Q2 CEO and president, said, “Everyone at Heartland has an outstanding commitment to simplifying the online banking process and creating a seamless user experience for account holders.”

Courtesy of a new partnership between Q2 and Easy Solutions, more than 340 financial institutions will now have access to a suite of omni-channel fraud prevention solutions.

Integrating Easy Solutions’ Total Fraud Protection Platform will give banks and credit unions are Q2’s virtual banking technology additional protection against attacks including phishing, farming, malware, Man-in-the-Middle and Main-in-the-Browser.