Ramat Gan based startup AllCharge, the developer of a billing system for rich content media downloads on the Internet, completed a $900,000 financing round from exisiting investors in the end of December. AllCharge founder, president and CEO Jakob Schwerdt today told TheMarker the company was planning to raise another $3 million to $5 million by April.
Since it was founded in February 2000, AllCharge has raised a total of $5.8 million from Israeli VC fund Peregrine Ventures, American Wal Investment fund and private investors. The company is currently negotiating with Israeli and U.S. funds and strategic investors regarding a final round of fundraising before reaching profitablity, projected for end of 2002.
According to Schwerdt, the company is negotiating the use of its systems with two leading media companies in the U.S. Interscope, a division of leading music company Universal Music, is considering using AllCharge's billing system in the hip-hop music group Jurassic 5 website.
AllCharge's billing system enables billing on Internet websites of digital file downloads, while allowing for changes in pricing policy to be made online. AllCharge sells licenses of the system, as well as is paid for every transaction that is made with its system.
There are now 18 workers in AllCharge, 12 in its R&D center in Ramat Gan, five in New York and one in London. In December, AllCharge appointed Llew Roberts, a former manager in Geffen Records, it new COO.