VGS

Based in the US, Very Good Security, Inc. specializes in payment tokenization, providing secure and compliant management of sensitive payment data via a single API integration. Founded in 2015 in San Francisco, US, Very Good Security, Inc. focuses on enabling businesses to secure sensitive payment information.

The company has successfully completed 6 deals and recently raised USD 60. 00 mn in its Series C funding round led by Vertex Ventures, with participation from Andreessen Horowitz and Goldman Sachs Merchant Banking Division. The total amount raised by the company to date is USD 60. 00 mn, with a current valuation of USD 477.

55 mn. The founders, Mahmoud Abdelkader and Marshall Jones, have a history of innovation in the tech space, contributing to the company's strategic direction as it grows. VGS offers a comprehensive payment tokenization platform that simplifies the management of sensitive payment data through a single API integration. Their core product suite includes features such as network tokens, an account updater, and card attributes, allowing businesses to optimize payment processes while ensuring compliance with PCI regulations.

These solutions cater to a diverse clientele, including online retailers, restaurants, gaming companies, and financial institutions, facilitating seamless payment experiences across various sectors. Customers leverage VGS’s technology to enhance their payment performance, manage card data efficiently, and mitigate fraud risks while benefiting from automatic card updates and deeper card insights. The company operates in multiple geographical markets, serving clients primarily in North America, Europe, and Asia, thus establishing a broad international presence. VGS generates revenue through a transactional model that includes subscription-based pricing for its suite of payment solutions.

Clients, such as eCommerce platforms and financial institutions, utilize VGS's products to manage sensitive data securely, often through partnerships that facilitate payment orchestration and card issuance. The revenue structure typically involves fees associated with transactions processed through their platform, including charges for accessing network tokens and card management services. Specific pricing plans are aligned with the functionalities offered, ensuring that clients pay based on their usage and the scale of services rendered. VGS's flagship offerings enable businesses to enhance user experiences while maintaining regulatory compliance, solidifying the company's position as a leader in the payment tokenization space.

Very Good Security, Inc. is focusing on developing new products to enhance its payment solutions, with timelines for release pending further announcements. The company is also strategizing to expand into additional markets, specifically targeting new regions in North America, Europe, and Asia by the end of 2024. Recent funding from the Series C round will be utilized to support these initiatives, strengthening its product development and market presence.

Additionally, the company has raised an undisclosed amount of venture funding from new investor 408 Ventures, which will further bolster their growth strategy.