KPG Ventures Announces $6.0 Million in Total Seed Stage Funding for Four Promising Tech Companies

SAN FRANCISCO KPG Ventures—a venture capital firm specializing in seed-stage, consumer internet companies—has added three new members to its portfolio and is investing in a second round of funding for a fourth company. Lexy, Wowd and National Payment Card Association have secured new funding from KPG Ventures while the venture capital firm is investing in a new round of funding for Cake Financial. KPG Ventures has infused a total of $6 million into the four companies, each of which provide a valuable technology-based service.

“We firmly believe this is an excellent time to invest in these companies,” said KPG Ventures General Partner Dave Hills. “Despite the current economic environment, KPG believes consumer Internet companies still provide the opportunity for outsized returns when the economy turns.”

Lexy enhances life on the go for mobile phone users by providing free, on-demand access to favorite audio news and entertainment directly to their cell phones and allowing users to organize the items into convenient playlists. The easy-to-use service sends news and entertainment “Quickcasts” to mobile phones, making the mobile experience richer and more satisfying through a unique combination of text and audio.

Currently in stealth mode, Wowd represents the future of how people find great content online. The company’s mission is to reinvent how users engage in search, discovery, and recommendation on the web. Wowd offers a people-powered platform that fundamentally democratizes the discovery of information.

A third funded company, National Payment Card Association, is an innovative marketer of payment systems that eliminate the expensive credit card transaction fees for merchants and consumers. National Payment Card Association’s technology is currently being deployed in gas stations across the country, allowing consumers to save money on every gallon of gas pumped and merchants to avoid the large fees charged by credit card companies. KPG Ventures’ investment in the company will help it solidify its lead in the petroleum sector.

KPG Ventures has also provided a new round of funding for Cake Financial, a social investment service that lets people safely and securely track all their investment portfolios in one place. Cake allows member investors to view comprehensive profiles of other members. Investors can see how other members view the market as well as how others’ portfolios have performed over time. Members can learn how much risk other investors take on, what they trade, and how they perform over time.

Founded in 2006, KPG Ventures is a San Francisco-based venture capital firm. KPG focuses on the consumer Internet sector of technology-driven businesses, investing at the seed-stage cycle of a company’s development. With a proven track record of picking the right companies and teams who are focused on highly capital efficient opportunities that require little capital to reach profitability, KPG has launched many successful companies. The firm concentrates its efforts on a small handful of companies at a time so that it can leverage the strategic and operating expertise of its general partners.

For more information about KPG Ventures, please visit www.kpgventures.com.

Source: KPG Ventures