oneTXT Raises $2 Million to Power Mobile Payments for Social Games and Apps

July 10th, 2009

By Christopher Mack

oneTXT, a new mobile payments company based in New York City with offices in San Francisco, recently announced that it has raised $2 million in Series A funding led by Metamorphic Ventures. Several angel investors also participated.

oneTXT is joining an increasingly crowded market of companies focusing on user payments for virtual goods in social networks, online games, and social applications. The company says its platform will let publishers accept payments, create loyalty programs, and send out marketing information.

In addition to the financing news, the company also announced that Lucy Hood will become an independent director. Most recently, she was the Executive Director of the USC Marshall Business School Institute for Communication Technology Management. Previously, she served as CEO of Jamba, a news company, where she worked extensively with mobile strategies.

She expanded Jamba to serve one billion users in 25 languages and helped build partnerships with MTV, Sony, Disney, and Electronic Arts. She also led the first mobile efforts of American Idol, the popular television show.