Visa Investment Completes Second Round of Funding for iS3

Tuesday 11 November 2003 10:18 CET | News

iS3 Inc. (i-s-cubed) and Visa International have announced a multi-year global strategic alliance to explore opportunities to use iS3 security management solutions to deliver business advantage and strategic benefits to Visa, member financial institutions and Visa merchants.

Visa International has also made an equity investment in iS3, as part of its Series B equity funding round, which raised a total of $9.1 million. The round was led by Menlo Ventures and also included participation from some of Silicon Valleys premier venture capital firms, including BV Capital, Asset Management, and existing investors. The total equity investment to date in iS3 is more than $11 million. Through the iS3 - Visa strategic alliance and equity investment, the companies will work closely together over the next two years to identify new ways in which iS3s unique technologies can contribute to the building of Visas vision of u-commerce (universal commerce)?the ability to conduct commerce anywhere, anytime and any way. Such activities may include adapting iS3 technology for a variety of security-related initiatives to address the needs of future networks and devices.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce


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