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Vindicia, 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.
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