Welcome!

@CloudExpo Authors: Automic Blog, Liz McMillan, Elizabeth White, Pat Romanski, Nate Vickery

Related Topics: @CloudExpo, Microservices Expo

@CloudExpo: Press Release

MineralTree Raises $6.3 Million to Accelerate Growth

Fidelity Growth Partners India leads financing round to drive innovation in secure, cloud payments for small and medium business

MineralTree, Inc., maker of the cloud-based, secure payments solution specifically designed for small and medium businesses (SMBs), has received $6.3 million of venture financing.  Led by Fidelity Growth Partners India with full participation from initial investor, .406 Ventures, the funding will be used to further enhance the capabilities of the MineralTree platform and to accelerate its partnerships with banks and distribution to their SMB customers.

The MineralTree solution is a secure, cloud-based payment and cash management solution that meets the needs of companies with annual revenue of $500,000 to $50 million. Offered to SMBs as a private labeled solution by MineralTree's bank partners, the system provides unmatched security, mobility and visibility into the management of B2B (business-to-business) payments, via a secure web browser or iPad application.

Shyam Kamadolli, Director at Fidelity Growth Partners India, joins MineralTree's board of directors bringing the expertise and resources of a global financial services leader. "MineralTree offers tremendous value to small and medium businesses and the banks that serve them," said Kamadolli. "In the U.S., and around the world, B2B payments are still maturing, with SMBs representing a large, well-recognized and underserved opportunity. MineralTree fills a critical need, delights end-users and helps banks strengthen relationships with their customers. It's a big market, and we're excited to partner with this experienced team of repeat entrepreneurs."

Solving a Critical Problem for Growing Businesses
Very small companies use paper checks and online bill pay systems to manage and process payments. Very large companies rely on complex and expensive treasury management solutions. However, more than 3 million SMBs are stuck in between these two extremes and are left to use a variety of poorly integrated, ad hoc, manual, paper-based and processes that make their lives unnecessarily complex, and expose them to security risks and control weaknesses. MineralTree offers a simple, streamlined solution that brings new efficiency, security and convenience to payment processes.

"We are a fast-growing company and had outgrown our bank's online bill pay system" said Mike Mozzer, Chief Financial Officer at TraceLink Inc., developer of the TraceLink Business Cloud application platform that helps businesses build collaborative, transparent global supply networks. "We needed a better way to manage payments and wanted to move away from manual, paper-intensive processes. By integrating MineralTree into our existing accounting system, we are able to streamline the entire payments process. We also appreciate the enhanced security and overall control that MineralTree provides as our financial procedures and policies become more sophisticated."

Helping Banks Build Stronger Customer Relationships
Facing disintermediation from alternative payment processors, banks are seeking to maintain and strengthen relationships as their smaller business customers grow into larger organizations with more complex payment needs. MineralTree is a value-added service that enhances a bank's relationships with its SMB customers while driving additional revenue.

Securing the Payment Process from External and Internal Threats
Fraud remains an ongoing and growing issue, with new threats surfacing every day, both from organized online account takeover and opportunistic employee fraud. The MineralTree system deals with both challenges through its secure, locked-down architecture, which helps protect SMBs and banks from traditional threats like check fraud as well as sophisticated online account takeover schemes. Further, MineralTree enhances internal security by ensuring that only people who are authorized to make and approve payments are doing so - and only to known and authorized accounts - eliminating the possibility of rogue employees redirecting payments for personal gain.

About MineralTree
MineralTree delivers secure, online payments solutions to banks that are specifically designed to meet the needs of their small and medium business customers. The solution provides a simple, streamlined approach that brings new efficiency, security, and convenience to payments and cash management processes - at a cost that is easy to justify - while helping to enhance the bank's customer relationships. MineralTree's leadership team has a long track record of creating innovative solutions to long-standing problems in banking and financial services.

More Stories By Glenn Rossman

Glenn Rossman has more than 25 years communications experience working at IBM and Hewlett-Packard, along with startup StorageApps, plus agencies Hill & Knowlton and G&A Communications. His experience includes media relations, industry and financial analyst relations, executive communications, intranet and employee communications, as well as producing sales collateral. In technology, his career includes work in channel partner communications, data storage technologies, server computers, software, PC and UNIX computers, along with specific industry initiatives such as manufacturing, medical, and finance. Before his latest stint in technology, Glenn did business-to-business public relations on behalf of the DuPont Company for its specialty polymers products and with the largest steel companies in North America in an initiative focused on automakers.

@CloudExpo Stories
SYS-CON Events announced today that Evatronix will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Evatronix SA offers comprehensive solutions in the design and implementation of electronic systems, in CAD / CAM deployment, and also is a designer and manufacturer of advanced 3D scanners for professional applications.
"I focus on what we are calling CAST Highlight, which is our SaaS application portfolio analysis tool. It is an extremely lightweight tool that can integrate with pretty much any build process right now," explained Andrew Siegmund, Application Migration Specialist for CAST, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that's no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, explored how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He expla...
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...