Blog Post

ClairMail Raises $13.8 Million For Mobile Banking Technology

ClairMail, which helps banks process transactions via SMS, mobile web and apps, said it has raised $13.8 million in an additional round of capital. The round was led by Investor Growth Capital with existing investors, JAFCO Ventures, Norwest Venture Partners and Outlook Ventures, also participating.

ClairMail, which estimates that 46 percent of the top 600 banks are planning to purchase or implement mobile banking strategies in 2010, will use the financing to grow its technology infrastructure and service capabilities to meet the growing demand for mobile financial services. ClairMail already said revenue has increased by 300 percent year over year as of the end of the second quarter.