Check (formerly Pageonce) announced today that it has secured $24 million in a Series C financing round led by new investor Menlo Ventures. Doug Carlisle of Menlo Ventures will join Check’s board. Existing funders Morganthaler Ventures and Pitango Venture Capital also joined in the round. The funding haul brings Check’s total funding up to $49 million. The new funds “position us to expand into the market,” said Guy Goldstein, co-founder and CEO of the Palo Alto-based company. The company was founded in Israel in 2007. Check began life as a mobile account aggregator back when the iPhone was young, but moved into the bill payment space in 2011. Check counts 10 million customers and processes more than $500 million in payments per year, Goldstein said. As to what the company will do with the money, Goldstein pointed to two main initiatives: accelerating customer growth and product innovation. In terms of acquiring customers, “we’re working with billers,” Goldstein said, “and signed three deals to promote Check.” Innovation will be key in order to “maintain and expand leadership in the bill payment space,” according to Goldstein. The company will also have “a few exciting announcements” in the next three to four months, [...]
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