BitPass Secures Series A Funding

Aug 01, 2003

BitPass Inc. has secured $1.5 million in Series A funding. Lead investors in the round are Garage Technology Ventures and Cardinal Venture Capital. Additional investors include Amicus Capital and Constantin Partners. BitPass provides a micropayment system for online content. Content providers can start selling their content using a self-provisioning, no-charge setup process. After completing a one-time setup, buyers can purchase and access BitPass-enabled content with a single-click interface. Garage Technology Ventures and Cardinal Venture Capital will each have representation on the BitPass Board of Directors. BitPass recently launched its public beta and anticipates a full release prior to the end of Q3 2003.