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Transcepta Closes $3 Million in Series A1 Funding.

ALISO VIEJO, Calif. -- Transcepta, LLC, the leading innovator in Electronic Invoice Presentment and Payment (EIPP) announced today that it has closed a second round of funding totaling $3 million. The round was led by Tech Coast Angels, which also led Transcepta's first round of funding in 2005. The capital will be used to expand Transcepta's infrastructure and marketing efforts. "We've experienced tremendous customer momentum in a short period of time. It's now appropriate to scale the service," said Ray Parsons, CEO of Transcepta.

Like many invoicing and electronic payment vendors, Transcepta offers a service that enables Business to Business customers to send invoices electronically or by post. The service also enables "Invoicers" to receive electronic payments from their customers via ACH bank transfer or credit card. Transcepta is quite unique however in that it can be implemented over the web in about an hour.

Shan Haq, Transcepta's Director of Product Management, offers this advice to businesses looking for an invoicing and payment solution, "If a vendor says he needs to send someone to your facility to implement a solution, then you should probably keep searching because you're going to have quite a project on your hands. The vendor could be onsite for weeks or even months."

Transcepta's service integrates seamlessly with virtually any accounting package. Current customers are using systems including QuickBooks, Great Plains, Profit 21, and various homegrown systems.

About Transcepta

Transcepta, LLC was formed in June 2005 with the mission of creating an easy-to-implement, on-demand, Electronic Invoice Presentment and Payment (EIPP) solution accessible to businesses of all sizes. With Transcepta, businesses can now implement EIPP at a low cost while realizing a remarkable ROI. Transcepta is located in Aliso Viejo, CA and is financially backed by strategic investors including the premier Southern California angel investing group, Tech Coast Angels.

For more information, please contact info@transcepta.com or call 949.330.6750. Transcepta can be found online at www.transcepta.com.
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Publication:Business Wire
Date:Dec 18, 2006
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