Wednesday, June 19, 2013

Card Scanning Solutions Finds Funding

Culver City-based Card Scanning Solutions (CSSN), said today that it has raised a round of equity funding, from Insight Venture Partners, Red Oak Growth Partners, and Egis Capital Partners. Size of the funding round was not announced by the company. Card Scanning Solutions develops software which extracts information from official identification documents, such as driver's licenses, passports, and ID cards. The company said the funding will go towards product development efforts. Card Scanning Solutions is led by Yossi Zekri. Card Scanning Solutions also said it received a senior credit facility from Silicon Valley Bank in the deal, and that it was advised by Peter A. Sokoloff & Co. and Bradley Consulting Group; the investors were advised by Goodwin Proctor LLP and Deloitte LLP.

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