QSecure Raises $5 Million Series C Financing
Los Altos, CA – December, 2007. QSecure, Inc. an innovator in payment card authentication solutions announced that it has closed a Series C Preferred Stock financing round totaling $5 million.
The financing was led by QSecure's existing investors which include Allegis Capital, Worldview Technology Partners, Société Générale and UMC Capital. QSecure's external Board of Directors remains the same consisting of Jean-Louis Gassée, a Partner at Allegis Capital, Peter Goettner, a Partner at Worldview Technology Partners, and Frank Lee from UMC Capital.
The proceeds from the financing will be used to complete development of QSecure's patented payment card security and authentication solutions, and support customer pilot and rollout programs.
About Allegis Capital (www.allegiscapital.com)
Allegis Capital focuses on investments in early stage information technology companies in California. Allegis has raised $500 million in capital and is a leader in working with major corporations to create strategic advantage for its investors and portfolio companies. Its 33 corporate partners include A&E Networks, BestBuy, Boeing, Comcast, Dow Jones & Co., Eastman Chemical, Fujitsu, General Electric, Hearst, Honda, Motorola, Rogers Communications, Siemens, Societe Generale, Sun Microsystems and other multinational companies. Allegis Capital maintains offices in Palo Alto, San Francisco and Santa Monica, California.
About Worldview Technology Partners (www.worldview.com)
Worldview Technology Partners is a leading venture capital firm focused on investing in and building leading U.S. technology companies. Its comprehensive, industry-leading business development services help portfolio companies succeed in U.S. and international markets.
With a 12-year track record of successful technology investing and more than $1.3 billion under management, the Worldview team has both the experience and the resources to invest in a broad range of information technology markets, including communications, semiconductors, digital media, enterprise infrastructure and software.
About UMC Capital (www.umc.com)
UMC Capital is the corporate venture arm of UMC, a leading semiconductor foundry based in Taiwan. UMC Capital invests in innovative technology companies worldwide. UMC was founded in 1980 as Taiwan's first semiconductor company and is listed on NYSE under UMC, and on the Taiwan Stock Exchange under 2303.
About Société Générale (www.socgen.com)
- Société Générale is one of the largest financial services groups in the euro-zone. The Group employs more than 103,000 people worldwide in three key businesses:
- Retail Banking & Financial Services: Société Générale serves more than 19,8 million individual customers worldwide.
- Global Investment Management & Services: Société Générale is one of the largest banks in the euro-zone in terms of assets under custody (EUR 1,521 billion, March 2006) and under management (EUR 402 billion, March 2006).
- Corporate & Investment Banking: Société Générale ranks among the leading banks worldwide in euro capital markets, derivatives and structured finance.
- Société Générale is included in the five major socially-responsible investment indexes.
About QSecure (www.qsecure.com)
QSecure Inc. is a payment platform company that was founded in 2003. Our SmartStripe solution provides electronic powered cards that reduce payment fraud for issuers, merchants and consumers without changing retail systems or cardholder behavior.
Our patented, dynamic device and authentication solutions are designed to allow card issuers to protect magstripe card data without requiring changes to existing card processing environments.
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