Headquarters: Redwood City, Calif.
CEO: Robb Duffield
New Funding: $12 million
Backers: SBT Venture Capital, Opus Capital, Jado Investments
Sequent Software, a mobile commerce software and services company, allows users to download payment card information to their mobile devices, via its Trusted Service Manager (TSM) program. With TSM, users can access information and offers from various mobile carriers, stores and banks, as well as make mobile purchases. The new round of funding, led by SBT Venture Capital, the venture branch of Russian bank Sberbank, is set to drive worldwide growth of the company's wallet program and commercial deployments to mobile operators, card issuers and leading banks, according to a Sequent press release. In the same announcement, the Redwood, Calif.-based company also said that a member of SBT Venture Capital, Mircea Mihaescu, will join the Sequent Software board as a way to expand the company's industry team.