Atlanta Companies Continuing To Snap Up Funding

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FTRANS, doctor an Atlanta-based company focusing on solutions for accounts receivable and credit management, treat
secured $4 million in venture funding for a total of nearly $22 million since its founding in 2004.

FTRANS solutions manage the entire collections and receivables process for small to mid-sized businesses. In addition, the company allows financial institutions to diversify their lending portfolios while providing the companies with more efficient access to their revenue stream.

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Kudzu Interactive, an Atlanta-based company providing online and mobile ordering systems for the restaurant industry, secured $7 million in Series B funding for a total of $11 million total since 2004. This round will be used to accelerate sales and marking efforts to expand the business, with a focus on mobile and iPad development.

Kudzu Interactive’s uses location-based technologies (e.g. GPS, wi-fi and cell tower triangulation, etc.) to find the closest restaurants to end-users and provides the complete system to enable ordering and delivery.  Their Snapfinger division already works with many national chains including Boston Market, California Pizza Kitchen and many independent restaurants.

The company is at the center of a number of converging technologies that offer great opportunities for growth, and thus possibly bringing increased competition. According to Jim Garrett, founder and CEO, the company’s revenues grew 420% in 2009 and continue to increase. This could be a race to establish brand equity early in the market and a true leadership opportunity.

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Whoop, an Atlanta-based company licensing a platform for the full management and publishing of text and media on mobile devices, raised $1.8 million via a credit line with an expectation of gaining access to another $1 million this year, according to the Atlanta Business Chronicle.

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