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Dealipedia - TrialPay receives an investment from Index Ventures...

TrialPay receives a $12.7 million investment

Deal Participants:
Company: TrialPay View Profile Charts Homepage
Investors: Index Ventures View Profile Charts Homepage
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Deal Financials:
Investment Amount: $ 12.7 million
Series: B
Date:
Announced: Feb 20, 2008

PRESS RELEASE - TrialPay receives a $12.7 million investment

TrialPay, a leader in alternative payments, has recently reached several milestones:



* Closed $12.7 million in a Series B round of funding, bringing the total amount raised to $15.8 million.



* Surpassed 5 million registered users (5.2 million, as of this release). More than 15,000 new users join TrialPay every day.



* As of this release, TrialPay will have 3,000 individual merchant partners and 4 strategic partnerships with premier e-commerce platforms (Kagi, asknet AG, E-junkie and Mercantec).



Over the last year, TrialPay has emerged as a leading alternative payment platform�the only payment method that increases a shopper's willingness to pay. TrialPay's patent-pending Offer-Matching Technology pairs shoppers with ideal offers from premier advertisers, including FTD, Gap, American Express, RealNetworks, eBay and 2,000 others, ensuring that every customer can find an offer that compels him or her to purchase.



"TrialPay represents a new era in online payments," said Danny Rimer, General Partner at Index Ventures. "With TrialPay, every customer can find an offer that gets him or her over the payment barrier, reducing shopping cart abandonment by uniting advertisers with customers at the point of purchase. The idea of a payment method that takes advantage of what the Web has to offer was so compelling that we were immediately drawn to invest."



Index Ventures was part of a Series B that included Atomico Ventures and former PayPal executives. The Series A round included Battery Ventures, Ron Conway and Bob Pittman.

Alex Rampell, TrialPay's co-founder and CEO, attracted the attention of VCs with a new platform that lets customers pay�and get paid. The customer gets his or her original product for free by trying or buying one advertiser offer.



"There is no reason for a shopper to abandon his or her cart," said Rampell. "Every shopper is in the market for something. If a customer can't be convinced to complete a purchase, TrialPay provides thousands of other ways to pay�and get the original product for free as part of the deal."



For example, if a customer isn't quite sold on a software title, he or she could get that software for free by sending flowers from FTD.com, signing up for Blockbuster Total Access or buying $50 worth of clothes at Gap.com. TrialPay pays for the software using revenue (CPA) from the advertiser, and the customer gets a free license. Everyone wins.



TrialPay appeals to software publishers as a means of converting trial customers and boosting sales through creative marketing initiatives (e-mail campaigns, exit and uninstall messaging, direct payment method, etc�). TrialPay recently launched an exclusive free software promotion on CNET Download.com:

www.download.com/freesoftware . Visitors can select their preferred advertising offer and get a free license from over a dozen of the most popular downloads, including titles from McAfee, AVG, PC Tools, Webroot, WinZip, Lavasoft, Trend Micro and many more.

The appeal of TrialPay's alternative payment model extends beyond software to attract more than 3,000 merchants spanning the games, publishing, online services and retail industries. TrialPay merchants include The Wall Street Journal, Skype, Fandango, JDate, Trillian, Eidos Interactive (Tomb Raider), PlayFirst and thousands more.



"TrialPay dramatically increases conversion rates for online merchants across all verticals," said Roger Lee, General Partner at Battery Ventures, a Series A and B investor. "TrialPay empowers shoppers with thousands of payment options, revolutionizing the way we pay. The funding Battery Ventures and partners provided will ensure that TrialPay continues to lead and innovate in the alternative payments industry."

For more information on TrialPay: www.trialpay.com .



About TrialPay

TrialPay unites advertisers, merchants and shoppers to create the first payment platform that benefits all parties. Using TrialPay, merchants turn lost and indecisive shoppers into paying customers by giving away their product for free when a shopper completes an offer from blue-chip advertisers like American Express, Gap, FTD, eBay and thousands more. Advertisers pay a bounty that equals or exceeds the merchant's regular price to create a profitable transaction out of a stalled or abandoned cart. TrialPay ensures that every shopper finds an offer that compels him or her to purchase by pairing premium brands with the added value of a free product. With TrialPay everyone wins: shoppers get a free product, advertisers acquire new customers and merchants earn significant revenue from lost or unlikely customers.



TrialPay works with over 3,000 premium merchants, including McAfee, The Wall Street Journal, Skype and other industry leaders in software, games, publishing, online services and retail. TrialPay currently has more than 5.2 million registered users and adds 15,000 new users every day.



About Index Ventures

Index Ventures is a leading European venture capital firm active in technology venture investing since 1996. The firm is dedicated to helping top entrepreneurial teams in the Information Technology and Life Science sectors build their companies into market defining global leaders. The firm has offices in Geneva, London and Jersey and focuses its investment activity primarily on Europe and Israel. Investments include Skype (the pioneering communications company acquired by eBay); MySQL (the world's most popular open source database) and Last.fm (the world's largest social music platform, recently acquired by CBS). For more information, please visit www.indexventures.com .



About Battery Ventures

Since 1983, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company�s life, from start-up and expansion financing, to growth equity and buyouts.



Battery has supported many breakthrough companies around the world, including: Airespace (acquired by Cisco), Akamai Technologies (NASDAQ: AKAM), Cbeyond (NASDAQ: CBEY), LIFFE (acquired by Euronext), and Neoteris (acquired by Netscreen). Its current portfolio includes emerging firms such as BazaarVoice, BladeLogic (NASDAQ: BLOG), Netezza (NYSE Arca: NZ), Spot Runner, TradeKing, and World Golf Tour, as well as more established companies such as ITA Software, MetroPCS (NYSE: PCS) and Omniture (NASDAQ:OMTR).


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Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_investment.php on line 963
Feb 20 '08
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