Vindicia
Vindicia is an enterprise cloud computing, SaaS billing platform company headquartered in Belmont, California, USA that provides digital merchants with an online billing and subscription management platform. Vindicia works with digital leaders selling subscriptions or digital goods such as virtual currency and virtual goods. Vindicia is a PCI Level 1 SAS 70 Type II audited company. In addition to their online subscription billing platform, they offer chargeback management, fraud screening, and built in best practices for customer retention and customer acquisition strategies around billing, marketing, and operations that are customized for customers.
History
Origins
Vindicia was founded in late 2003 by eMusic cofounder Gene Hoffman, former eMusic VP of Technology Brett Thomas, and Mark Elrod as a company specializing in software as a service (SaaS) billing platform.
On November 1, 2010, Vindicia announced raising $20 Million in a Series E financing round with FTV Capital leading the funding and in partnership with existing investors Bertelsmann Digital Media Investments (BDMI).
Current status
Vindicia is headquartered in Belmont, California. It is a privately held, venture-backed company.
Products and services
Cashbox
CashBox is designed with the underlying premise that billing and fraud management are critical to drive the fundamentals of profitability. With CashBox, online merchants are able to create and grow predictable revenue streams while lowering ongoing customer acquisition costs. CashBox addresses the needs of online merchants of any size and scale who offer intangible goods and services across a wide range of industries.
Vindicia's subscription billing platform consists of a billing system where merchants can define billing plans, issue refunds, create payment retry schedules, as well as manage chargebacks. Unlike many online billing platform solutions, Vindicia's product offers a payment gateway, thus negating the need to purchase a separate gateway offering from another vendor. Their product also has a built in global sales tax engine which can calculate sales tax, VAT, and GST. As part of their subscription billing product, their offerings include built in best practices customized to the client on issues such as customer retention, customer acquisition, and increasing online revenue and the average customer lifetime value.
ChargeGuard
Vindicia's ChargeGuard service is used by digital merchants to minimize both false positives and a merchant's chargeback rate. ChargeGuard customers see a dramatic reduction in the number of chargebacks in addition to the significant amount of revenue recovered from the chargebacks they fight, typically with a 60-85% win rate. Additionally, they were able to leverage their products and their best practices methodologies to reduce one of their customer's chargeback rate from 5% initially to less than 0.5% in just a few months.
Customers
Vindicia's customers are in a number of industries such as gaming, dating, digital content, and software. Their customers include Symantec, Cisco, Boxee, Blizzard Entertainment, deviantART, Intuit, Mind Candy, Online Buddies (manhunt.net), Fandango, Bloomberg, CyberDefender, Mingle (iChurch.com), Avid Life (HotorNot.com, AshleyMadison.com, CougarLife.com, EstablishedMen.com), Next Issue Media (publishing platform created by a consortium of the biggest publishers - Condé Nast, Hearst, News Corp, Time Inc..), Atari/Cryptic Studios, IMVU
See also
- Software as a Service
- Web application