Rainforest, an Atlanta-based payment processing startup, has raised more than $30 million in its first year, with $20 million coming from a Series A round and $12 million from seed funding.
The company has attracted attention from major venture capital firms and investors looking to expand its services, enhance its innovative technology, and further improve customer experience.
Joshua Silver, the CEO and founder, plans to use the capital investments to advance market strategies and product development, shifting focus from seed round funds. This new approach highlights growth and progress in a changing market, indicating a promising future for Rainforest.
Established in early 2022, Rainforest provides high-quality software applications supported by efficient payment processing methods.
Atlanta’s Rainforest secures over $30 million funding
The Series A funding round was led by San Francisco-based venture capital firm Matrix.
The company generates revenue through a transaction-based fee on its platform. This fee model is popular due to the growing demand for integrated software and payment services.
Rainforest’s revenue model builds trust among users with its transparency and reasonable costs, showcasing the effectiveness of advanced technology combined with a customer-focused approach.
Despite slight fluctuations in North American startup funding, Rainforest has solidified its position in the startup landscape by securing Series A funding in just two months. Investors have been impressed by the company’s focus on sustainability, leading to increased Series A funding.
The seed funding has played a significant role in Rainforest’s journey, allowing it to develop its platform and onboard its first customers, particularly in the healthcare and logistics industries, processing millions through the platform annually.
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Rainforest, based in Atlanta Tech Village with a team of 24, intends to use the additional $20 million from the Series A round for sales, marketing, business expansion, and enhancing customer experience.
