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vindicia-logoVindicia, which provides companies with online software to help manage web billing and payments, has raised $7.5 million in a fourth round of venture funding.

The Redwood City, Calif., startup is one of several companies (Zuora and Aria Systems are the other ones we’ve covered) trying to bring the software-as-a-service approach, where the tools are provided via online subscription, to the billing software market. Among its customers are Symantec, Intuit, Atari/Cryptic Studios, and Outspark. The company has said it will be profitable this year, with somewhere between $6 and $8 million in revenue.

Newer competitor Zuora (also based in Redwood City, incidentally) has been getting more attention recently with its team from Salesforce.com and WebEx, as well as innovations like a payment platform for Facebook applications. But Vindicia’s executives have told me their product stands out when dealing with many of the difficulties associated with billing, such as fraud.

Vindicia has now raised more than $21 million. The new round was led by ONSET Ventures, with participation from previous backers Bertelsmann Digital Media Investments, DCM, and Leader Ventures.

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