IP Commerce’s flagship product, Commerce Sync, automates and provides interoperability between front- and back-office systems to simplify accounting for small businesses. The solution integrates with leading accounting software including QuickBooks and Xero. Commerce Sync is distributed through payments and commerce partners such as First Data, Square, Stripe and NCR and serves thousands of SMBs. In 2015 the product relieved small businesses of more than 300,000 hours of manual data entry. The company will use proceeds from the financing to expand its team and enhance Commerce Sync’s functionality to better serve its rapidly growing small-business customer base. IP Commerce is headquartered in Denver, Colorado. IP Commerce provides a Platform-as-a-Service that modularizes commerce requirements into a software stack, handling payments technology, security, underwriting risk, network connectivity, and integration. The platform enables application developers and service providers to create intelligent multi-channel commerce applications and payment workflows for retailers. The company says it has averaged 20% monthly growth for the past two years and expected to exceed a $3 billion TPV run rate in 2011. IP Commerce maintains partnerships with major financial institutions and software companies and is backed by investors including Meritage Funds, Venrock, TTV Capital, Fifth Third Processing Solutions, and Iron Gate Capital. The company plans to use the new funding to further enhance the capabilities within the IP Commerce Platform and drive application developer adoption. The platform is marketed as an OS for commerce to support mobile, eCommerce, self-service (unattended), back-office, and multi-channel applications.

Total raised

$21M

Funding rounds

2

Latest round

Equity

Latest activity

Sep 2011