Core Insights - Rainforest, an embedded payment provider, has raised $29 million in an oversubscribed Series B funding round, bringing total funding to $57.5 million [1][2][3] Funding and Financial Growth - The Series B round was led by Matrix Partners and Infinity Ventures, with participation from Accel and Tech Square Ventures, all of whom were also involved in the Series A round [1] - Following the previous funding round, Rainforest has experienced a more than tenfold increase in revenue, driven by substantial annual processing volume [3] Use of Funds - The new funds will be allocated towards hiring, expanding into the Canadian market, and developing new payment technologies, including tap-to-phone and alternative payment methods [2] Product Enhancements - Rainforest has introduced several product enhancements aimed at increasing payment adoption, volume, and revenue for software platforms, including an embeddable chargeback management system and real-time bank validation for ACH payments [4] - The company's objective is to assist vertical software companies in integrating payment systems into their platforms, thereby enhancing revenue and customer retention [4] Market Positioning - Rainforest aims to address challenges faced by software platforms in embedded payments, such as legitimate merchant rejections and onboarding visibility, differentiating itself from competitors like Stripe Connect and Ayden Platforms [5]