SecureNet Payment Systems, a leader in payment processing technology, announced today that Sterling Partners, a leading growth-oriented private equity firm with approximately $5 billion in assets under management, has led an additional $18 million growth equity investment in SecureNet.

“These additional investments validate our strategic vision to be a leader in payment innovation and will be used to further expand our eCommerce and strategic product initiatives and bolster our PCI compliance and fraud monitoring tool sets. With a focus on top talent recruitment and technology development, this investment will drive us toward our goal of becoming the preferred all-in-one payment management solution,” said Warrington.

SecureNet connects merchants, financial institutions and their customers by providing advanced payment technology to deliver a fully integrated, one-stop payment solution that is easy-to-use, secure and affordable for merchants of all sizes. The company processes more than $12 billion in transaction volume and services 14,000 merchants annually.

Shoshana Vernick, principal at Sterling Partners said, “Our investment in SecureNet is consistent with our strategy to partner with experienced industry leaders who are passionate about the companies they lead and are capable of inspiring accelerated growth. SecureNet’s unique Software as a Service (SaaS) technology platform has the potential to disrupt a large, mature marketplace and to serve as the catalyst for the continued evolution of multi-channel, seamless payments integration.”

That strategy is being led by CEO Brent Warrington, an industry veteran with 18 years of experience in advancing commerce in the electronic payments space. Prior to joining SecureNet, Mr. Warrington previously served as CEO of FundsXpress, an online banking company, and as senior vice president and general manager at First Data.

“We at Sterling are pleased to continue our partnership with Brent and have the utmost confidence in his ability to attract top talent, solidify the company's technology advantage, and accelerate its market awareness and growth,” said Eric Becker, co-founder and senior managing director at Sterling Partners.