Verizon announces investment in SimplyTapp

PARTNER NEWS: Verizon Ventures, the investment arm of US carrier Verizon, has revealed that it was the undisclosed lead investor in a Series B funding round for HCE specialist SimplyTapp that totalled US$6m.


“We’re proud to announce our latest investment in SimplyTapp,” Verizon’s Vijay Doradla, who has now joined the SimplyTapp board, writes in a blog post.

“SimplyTapp has been pioneering the use of HCE technologies by allowing developers to leverage mobile devices for proximity payments using software integration and with no dependencies on hardware.

“As we look towards the future of a connected society, we’re excited to support SimplyTapp as it expands its capabilities in allowing mobile devices to exchange sensitive data securely across both physical and virtual environments.”

Other investors in the round, which was completed in November 2014, included Lightspeed Venture Partners and Blue Sky Capital.

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