Vyze, an Austin-based software company that helps retail and e-commerce businesses, has raised $13 million to help reach new markets and expand its customer solutions lineup.
The Series B investment was led by Austin Ventures and New York-based StarVest Partners, and the new money brings Vyze's total funding since launching in 2008 to $35 million.
"What's exciting about Vyze is the huge potential for growth," Chris Pacitti, general partner with Austin Ventures, said in a news release. "There's a huge need for financing solutions among retailers as well as manufacturers, and those needs will continue to grow as consumers increasingly turn to online and mobile platforms when researching and buying products."
Vyze, formerly known as NewComLink Inc., has previously secured $15 million of investment led by Austin Ventures and StarVest Partners. And it had also received a $6 million from an unnamed investor.
The company, headquartered off of Loop 360 south of the Pennybacker Bridge, has built platforms to help retail and e-commerce companies provide up-to-date financing options on purchases such as furniture, auto parts, appliances and home improvement materials. It lists Home Depot, Mattress Warehouse and ABC Warehouse as clients.
"Our goal is to help businesses provide the financing consumers need to buy the products they want, when they want them," Keith Nealon, Vyze's CEO, said in a news release. "Investments like these enable us to grow and create better solutions to meet the challenges merchants and lenders are facing today."
