This week, ViVOtech, the near field communication (NFC) software and systems company, confirmed their ambitious plan for the near future.
The company announced the first closing of its Series D round of funding, which will bring ViVOtech’s total funding to $96 million since the outfit was founded in 2001.
So what will all the cash be used for? To support ViVOtech’s growing market momentum and drive the rapid expansion of mCommerce worldwide.
The company’s software and Point-of-Sale (POS) technologies are already used by major financial services firms, leading mobile carriers, smartphone OEM’s and online players such as the Google Wallet, and is integrated with Isis mCommerce solutions.
“Companies across the mCommerce ecosystem are racing to capture their share of what is expected to be a massive opportunity,” says Michael “Mick” Mullagh, ViVOtech’s executive chairman. “This is driving strong demand for our software and systems. With this latest financing, we’re armed to extend our leadership position providing the infrastructure needed to deliver on the promise of mCommerce.”
“We’re fortunate to be supported by a stellar group of venture and strategic investors,” added Mullagh. “It’s gratifying to see that, after many years of seeding the NFC reader market, we’re now gaining strong commercial traction with our market-leading Trusted Service Management (TSM), Touch, Marketing and Loyalty software offerings for NFC- and QR code-based mCommerce initiatives.”
