SAN RAFAEL -- Mobile banking and payments software developer ClairMail Inc. today said it landed $13.8 million in late-stage financing.
The latest round of funding was led by Investor Growth Capital, part of Stockholm-based Investor AB.
"As a global investor, we have been actively monitoring the mobile banking and payments industry as financial institutions around the world realize that mobile is the strategic channel of the future," said Philip Dur, managing director of Investor Growth Capital, in a statement. "ClairMail has demonstrated rapid growth in North America and a greater footprint across international markets."
Existing investors JAFCO Ventures, Norwest Venture Partners and Outlook Ventures also contributed to the round.
The company plans to use the money to expand its technology and services, according to a statement. Early this year ClairMail expanded its headquarters and planned to hire 80 employees this year, bringing the company to 200 employees.
Founded in 2004, ClairMail recently reported strong year-over-year second-quarter revenue growth. Eight of the 12 largest North American banks use the company's Financial Institution software platform, which handles millions of transactions a month.
ClairMail cited data from comScore that 13.2 million people accessed their bank accounts from their phones during April of this year -- a 70 percent increase from a year prior -- and from IDC Financial Insights that mobile banking almost doubled from 2009.
ClairMail projects that 46 percent of the top 600 banks plan to purchase or launch mobile banking services this year.