| Type | Private |
|---|---|
| Industry | SaaS marketing and recurring billing software |
| Founded | California 2003 |
| Headquarters | Belmont, California |
| Key people | Gene Hoffman |
| Products | SaaS marketing and subscription billing platform for digital merchants |
| Employees | 100 |
| Website | www.vindicia.com |
Vindicia is a B-to-B-to-C cloud computing, SaaS marketing, billing and CRM platform company headquartered in Belmont, California, USA that provides digital merchants with an online recurring 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 SSAE-16 (formerly SAS 70 Type II) audited company. In addition to their online recurring billing and one-time payments platform, they offer marketing automation, chargeback management, fraud screening, and built-in best practices for customer retention and customer acquisition strategies around billing, marketing, CRM, business models, and operations that are customized for customers.[1]
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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) marketing, billing and CRM platform.[2]
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).[3]
Vindicia is headquartered in Belmont, California. It is a privately held, venture-backed company.
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.[4]
Vindicia's CashBox subscription billing and one-time transactions billing platform consists of a billing system where merchants can define billing plans, issue refunds, create payment retry schedules. CashBox also functions as a CRM tool and marketing automation and enterprise marketing management platform, where merchants can track marketing campaigns, generate single-use coupon codes and time-based promotion codes, set up localized customer communications, analyze customer acquisition and customer retention metrics, and 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 recurring 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.[5]
The CashBox platform handles subscriptions, microtransactions, freemium and hybrid subscription business models and allows users to scale internationally by adding additional currencies quickly. In October 2011, Mind Candy enabled 4 new currencies - AUD, Euros, CA & NZD -- overnight to its Moshi Monsters online game, which uses the CashBox platform. [6]
CashBox StoreFront is a storefront add-on to the CashBox recurring billing, marketing and CRM platform that enables users to manage orders, business models and offers, inventory management of a virtual items catalog via the CashBox token engine, and coupon payments. CashBox StoreFront includes checkout and shopping cart facilities and can handle different payment methods including credit cards, debit cards, PayPal, Incomm pre-paid cards and electronic checks and incorporates client-side validation logic. CashBox StoreFront integrates Vindicia's Hosted Order Automation to offload PCI compliance to Vindicia.
CashBox StoreFront integrates CashBox's built-in global sales tax engine. Users may view and update personal and payment information directly from CashBox StoreFront and customer support personnel may look up customer and order information, and grant credits and refunds from CashBox StoreFront. [7]
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.[8]
Vindicia's CashBox solutions customers are in a number of industries such as gaming, dating, digital content, and software. Their customers include Symantec, Cisco, Boxee, Blizzard Entertainment, Magmic (Texas Holdem' King Live), deviantART, Intuit, Mind Candy (Moshi Monsters), SubaGames, TransUnion Interactive, Wicked Interactive, 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