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News & Features Technology Ziptr raises $1.5m in seed funding

Ziptr raises $1.5m in seed funding

Written by Mass High Tech Business News on Wednesday, 27 October 2010 14:06
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 Massachusetts based Ziptr has raised $1.5m in seed funding for its financial services products which are currently in beta testing phase.

Founded by serial enterprise software entrepreneur Firdaus Bhathena whose previous ventures include Relicore (which sold to Symantec) and WebLine (which sold to Cisco), Ziptr a new startup with a product designed to replace secure onlice services used by financial services companies and others to offer customer access to personal documents.

Ziptr is now reported by Mass High Tech Business News to be in a private beta test phase with a product designed to replace secure online services used by banks, mortgage brokers and others to offer customer access to personal documents. Ziptr aims to replace the many passwords customers now maintain to access such services with a single online document archive and a secure message service to send documents directly to users for storage on home systems.

After its planned public release later this year, Ziptr will be free to end-users and will be sold on a freemium pricing scale to businesses. Both institutions and end-users will have to be using the software, in order for the data transaction to work. The cost to businesses will be small, Bhathena said.

“If using Ziptr eliminates you having to send one FedEx or two FedEx envelopes a month, you’re done,” Bhathena said. “It pays for itself.”

Initially, Ziptr will target small and midsize businesses. That’s a departure from Bhathena’s earlier businesses, which aimed at larger, enterprise customers. Software markets have changed, he said, and so has the process of software development. Developers no longer spend a year working on a product for big-game customers before getting feedback.

“The world’s very different now and we’re enjoying that,” Bhathena said. “We actually think it’s very enjoyable to get customer feedback quickly and then iterate in tight cycles.”

 

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Last modified on Thursday, 28 October 2010 12:21

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