IP Commerce lands $17M for e-commerce software

E-commerce software provider IP Commerce Inc. doubled its equity investment with a $17 million Series C round of capital to build on relationships with payment services providers and software vendors and expand sales of on-demand technology for transactions and business analytics.

New York venture capital firm Venrock led the round, joined by new strategic investor Total Technology Ventures of Atlanta and previous investors Meritage Ventures, Appian Ventures and Iron Gate Capital, all of Denver.

The new investment round is expected to enable the Denver company to build on alliances crafted with service providers and independent developers to boost sales of products launched earlier this year. IP Commerce expects positive cash flow in 2009.

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