We're happy to announce our lead of SupportPay's Series A financing. As reported by PR Newswire:
SupportPay by Ittavi the first-ever platform to automate child support payments and enable parents to share related expenses, today announced a Series A investment of $4.1 million, bringing its total raised to over $7 million since 2014. The most recent funding round was led by Fenway Summer Ventures with participation from Moneta Ventures, Continental Advisors, and previous investors. With this investment, Javier Saade, Managing Director at Fenway Summer Ventures and Paul Purcell, co-Founder and Partner at Continental Advisors LLC have joined SupportPay's Board of Directors.
SupportPay will use the money to expand its team as well as ramp up marketing efforts to further its reach to parents, family law professionals, and government agencies across the country. SupportPay recently recruited Jyoti Das as Chief Technology and Operations Officer who will play a key role in these efforts. Das, a former Intel executive, was instrumental in building the early child support systems for several states.
Go here to read the full press release.