QSecure Receives $5M Series C Funding

QSecure Inc., a provider of payment card authentication services and software, announced recently that it has raised a third round of preferred stock venture financing after raising $5 million. The Los Altos, Calif.-based company credited existing investors Allegis Capital, Worldview Technology Partners, Societe Generale and UMC Capital with leading the effort. The money, QSecure said, will go toward product development and customer pilot and rollout programs. QSecure added that its outside board of directors remains unchanged. Founded in 2003, QSecure has a device that allows card issuers to protect magnetic-stripe card data without requiring changes to existing card-processing environments. More information »