imgres-10 Q2ebanking has closed on $20 million in Series C financing.
The Austin-based company provides highly secure electronic banking solutions for banks and credit unions throughout the U.S.
Battery Ventures, a new investor, led the round. Existing investor Adams Street Partners also participated.
Q2ebanking provides ebanking technology for approximately 400 financial institutions, reaching over 3 million online users.
The company plans to use the latest round of funding to expand its sales and marketing efforts and to invest in cloud platform technology.
“New research and development efforts will focus on a unified user experience, mobility solutions, additional commercial features and further enhancing the company’s leading edge security offering,” according to the company.
“The addition of Battery Ventures and the continued commitment from Adams Street Partners is a reaffirmation of our single echannel strategy and its corresponding value to the market,” Matt Flake, CEO and president of Q2, said in a news release. “The investments we are making will enable Q2 to further serve the needs of our current and future clients, and prepare the company for its next stage of growth.”