IP Commerce Raises $20.7M

Denver-based IP Commerce, the developer of e-commerce and payment systems, has detailed its funding from Intel, saying Thursday that it has raised $20.7M in a growth funding. The round was led by intel Capital, and also included existing investors Meritage Funds, Venrock, TTV Capital, Fifth Third Processing Solutions, LLC, and Iron Gate Capital. IP Commerce said that it will use the funding to enhance its platform and drive application developer adoption. Intel had announced its investment in IP Commerce, along with six other firms, earlier in the day. More information »