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Malauzai Raises $11 Million in Venture Funding

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Malauzai Software has just filed a form D with the SEC for $11 million in equity financing.

The investors in the venture round of funding were not disclosed. But the new capital takes Malauzai Software’s total to more than $24 million. Austin Business Journal quoted Robb Gaynor, Malauzai Software founder and chief product officer, who said the funding will help support the company’s growth and “market expansion.”

Previous investors in the company include Live Oak Banking Company and Wellington Management, which led the company’s last funding round, a $6.5 million fundraising, in May 2014.

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From left: Malauzai Software co-founders, CTO Danny Piangerelli and CPO Robb Gaynor who are joined here by a handful of their partners in demonstrating Malauzai’s Virtual Banking Experience at FinovateSpring 2015 in San Jose.

Malauzai specializes in developing innovative banking apps for community banks and credit unions. The company’s mobile apps and internet products give banks and CUs the ability to offer features such as P2P payments, mobile account registration, remote capture, picture billpay, and more, to their customers wherever they are and on whatever device they choose. This week, Malauzai announced a deployment of its mobile remote capture technology at Citizen’s 1st National Bank in Iowa. And in April and May, Malauzai’s new SmartwearApp for use with the Apple Watch went live with eight credit unions and community banks.

Malauzai demonstrated its Virtual Banking Experience at FinovateSpring 2015 in San Jose. Founded in 2009 and headquartered in Austin, Texas, Malauzai has more than 350 bank and credit union customers. Tom Shen is CEO.