Vancouver’s IP Applications Corp. announced today that it has fomally closed a non-brokered private placement raising gross proceeds of $775,000. The funding will be used to improve the user interface and expand the marketing campaign around their SaaS and cloud computing billing and subscriber management product.
IP Applications’ SaaS-billing and subscriber management application is itself a Software-as-a-Service product that provides a comprehensive suite of billing, subscriber administration and marketing plan execution support products for SaaS vendors and cloud computing applications. While the SaaS market orientation is new, the Company has extensive experience delivering these online services to current customers including AOL, Bell Mobility and Amway among others.
IP Applications’ SaasAutomation.com product saves SaaS vendors from burdening their product developers with writing business logic and marketing support functions when they should focus on the SaaS product itself.
IP Applications was founded in 1998 and trades on the TSX Venture Exchange under the symbol IPX.