BitPass Secures $11.75 Million in Series B Funding

Sep 07, 2004

BitPass, Inc., an Internet payments company, has raised $11.75 million in a Series B financing. Participating investors include Worldview Technology Partners, Steamboat Ventures (the venture capital arm of The Walt Disney Company), RRE Ventures, and others. Existing investors Garage Technology Ventures, Cardinal Venture Capital and Amicus Capital also participated in the round. The funding will be used to expand sales and marketing efforts, make additional product enhancements, and build additional customer service infrastructure to support BitPass merchant partners and members. James Robinson III, former chairman and CEO of the American Express Company and a general partner at RRE Ventures, will join BitPass' board of directors along with Peter Goettner, venture partner, Worldview, and John R. Ball, managing director, Steamboat.