By Orr Hirschauge. This article originally appeared on The Wall Street Journal, July 16, 2014.
TEL AVIV — Zooz Mobile Ltd., an Israeli based start-up that makes secure payment solutions for stores and eCommerce sites has closed a $12 million funding round led by Blumberg Capital.
Founded in 2010, Zooz started out as a mobile payments system, but later added a more comprehensive set of tools, including a web service. The company names IKEA and Groupon Inc. among its customers.
According to Oren Levy, Zooz CEO and co-founder, the company is currently focusing on allowing enterprise clients to integrate Zooz solutions into existing billing and customer relationship software.
Access Industries and Camp One Ventures participated in the funding round alongside Blumberg Capital.
Previous investors in Zooz also participated in the round, including XSeed Capital, lool ventures and Rhodium. Alon Lifshitz, a partner at Blumberg Capital, will be joining the company’s board.