MOUNTAIN VIEW, Calif., Jan. 31, 2012 /PRNewswire/ -- TrialPay announced that it has raised more than $40 million in its latest round of funding. New investors in this round include Greylock Partners, Visa Inc., T. Rowe Price, DAG Ventures, DFJ Growth and QuestMark Partners, with existing investor participation. The new financing will accelerate TrialPay's business growth as it expands into new markets and continues to innovate.
"TrialPay's approach to payments is different," said Reid Hoffman, Partner at Greylock Partners. "Their tremendous growth in the last year validates the efficacy of the model. We believe that the next generation of e-commerce depends on the ability to maximize revenue from every transaction, and TrialPay is the only company that has successfully leveraged global advertiser relationships to meet that end."
Since 2006, TrialPay has provided more than 150 million online shoppers with compelling ways to pay through the industry's first transactional advertising platform. Transactional advertising now drives hundreds of millions in revenue globally for merchants in business segments including social games, software, mobile apps, retail and online services.
The new financing comes in connection with the company's explosive growth in 2011. TrialPay ended the year with a 7X increase in transaction volume and 4X increase in traffic to the platform year-over-year. TrialPay's transactional advertising platform now reaches more than 70 million monthly active users worldwide.
"This investment round validates our role as the leader in transactional advertising," said Alex Rampell, co-founder and CEO of TrialPay. "Transactional advertising is rapidly changing both the economics of online payments and the way advertisers make meaningful connections with consumers online. We're excited to continue our advancements at the nexus between digital payments and online advertising."
TrialPay's transactional advertising platform boosts revenue and converts more customers for online merchants by placing targeted promotions around transactions. TrialPay presents customers with compelling incentives and payment options from name-brand advertisers, increasing sales for online merchants while driving traffic and customer acquisitions for premier advertisers. With TrialPay, everyone wins: customers get a free product or significant discount on current or future purchases, advertisers acquire new customers on a pay-for-performance basis and online merchants earn more revenue from their current traffic.
TrialPay works with leading companies across many industries, including software, social apps, retail, online services and more. In five years, TrialPay has provided more than 150 million users with compelling payment options at more than 10,000 sites including Facebook, Gap, Trend Micro and Fandango. TrialPay holds key patents spanning alternative payment methods for products, services and virtual goods sold online. For more information, please visit http://www.trialpay.com.