oneTXT scores $2 million in Series A

Social media payment platform provider oneTXT announced the completion of a $2 million Series A financing round led by Metamorphic Ventures, with additional contributions from KPG Ventures, the New York Angels Fund and a handful of individual investors. The firm also announced the addition of former iVillage CTO and SVP Richard Caccappolo as president and COO, and named ex-Jamba CEO Lucy Hood as an independent board director.

The oneTXT platform promises a payments processing alternative for social networks, online games, participation TV shows and related efforts, enabling social media and entertainment companies to accept payments, create loyalty programs, and send marketing messages without a third party owning the information or the relationship. Consumers enroll by providing a mobile number on a social media web site or sending a message with a keyword determined by the social media firm--their mobile number becomes their account number, and can then make purchases, earn rewards points and receive discount offers. oneTXT supports mobile operating systems including iPhone, BlackBerry and Palm.

For more on oneTXT's Series A round:
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