SimplyTapp announces funding to revolutionize mobile payments

SimplyTapp Inc., the developer of edge cloud-based mobile payment technology, has announced that it has raised its Series A round led by Lightspeed Venture Partners and continued support from Blue Sky Capital.

“Lightspeed gives us the backing we need to grow the company at just the right time,” said Doug Yeager, CEO of SimplyTapp. “They really understand the space and share our vision for the future of mobile enabled payments. We are thrilled to have them as our partner.”

The company created Host Card Emulation (HCE) and deployed it into the CyanogenMod operating system in early 2012 to bypass the network operator’s SIM card to complete a mobile payment at a point of sale terminal.

“The SimplyTapp team will bring secure open innovation to developers and issuers that have been dominated by complexity,” said Tim Danford of Lightspeed Venture Partners. “HCE is getting significant interest; I’m looking forward to working with the team to build a market leading company.”

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