RealTime IT News

Digital Commerce Corp. Secures $50.8 Million

B2G player Digital Commerce Corp., a developer and provider of e-commerce solutions for the business-to-government market, closed on $50.8 million in funding, bringing its total investment capital to $78 million.

Investors in the Series D financing round include Weston Presidio Capital, Highland Capital Partners, SAP Investments, Sentinel Capital Partners and RRE Ventures.

The funds will be used to expand sales and marketing activities, to develop enhancements to product offerings and for working capital, the company said.

"This round of financing will allow us to build brand awareness, accelerate our marketing strategy and grow our business to the next level," said Tony Bansal, president and chief executive officer of Digital Commerce.

Digital Commerce operates a federal e-marketplace called FedCenter.com, an online buying utility for the federal government with over 500 vendor relationships. Its StateGovCenter.com provides state and local governments with electronic trading hubs linked to vendors and its Marketlink service electronically automates the government request for quote and request for proposal process.

Digital Commerce also operates MyGovClub.com, a personal resource for government and military personnel and their families.