Bill payment and online invoicing company Bill.com has added $15.5 million in Series D financing. New investor Financial Partners Fund, a unit of Citi Capital Advisors, participated in the round, as did existing investors DCM, Emergence Capital Partners, August Capital, Jafco Ventures and Total Technology Ventures. The company is based in Palo Alto, Calif., and will use the money to expand operations, continue product development and for marketing efforts.
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Atlanta-based Cardlytics has raised $33 million from Groupe Aeroplan and existing investors to expand its transaction-driven marketing technology and banking rewards business in the U.S. and abroad. The company has raised financing previously from investors Kinetic Ventures, ITC Holding Company, Canaan Partners, Polaris Venture Partners and Total Technology Ventures.
Venture-funded Connecture has acquired Insurix, a provider of sales automation software to health insurance carriers and brokers. Financial terms of the deal were not released. Connecture is a provider of integrated Web-based sales, service and process automation solutions to the health insurance industry. The company is backed by investors including Chrysalis Ventures, SSM Ventures, Live Oak Equity Partners, Total Technology Ventures and Encubate Technology Ventures.
When the investment banking world abruptly burst at the seams last week, one question raised was: What about financial services startups that have been selling into big firms like Merrill Lynch and Lehman Brothers? That query begged another: What about the venture capital firms that specialize in funding financial services startups?
Apparently the answer for both is that danger plus crisis could equal opportunity.