The investment will help D3 Banking strengthen its team, invest in research and development and continue expanding its hosted platform to keep up with increasing market demand.

Mark Vipond, CEO of D3 Banking, said, “The past year we have seen a shift in the industry with leading financial institutions seeking modern solutions that provide the foundation required for developing a digital strategy that extends into the future. Our work with multibillion-dollar banks such as Arvest, First Tennessee Bank and IBERIABANK will result in more than 1.5 million users enjoying a more personalized, consistent and intuitive digital banking experience. As a company we have successfully completed the largest replacement projects in the history of the industry. These benchmarks helped West Partners recognize the pace and direction of change in the digital landscapes and the role D3 Banking can play in arming banks and credit unions with the tools they need to competitively differentiate themselves.”

D3 Banking offers a single platform solution that provides regional and midsized financial institutions with a comprehensive set of data driven digital banking services for any computer, smartphone, tablet or other digital device. West Partners is a San Diego-based investment firm that makes direct investments in private companies. In addition to the capital raise, West Partners provided D3 Banking the right to draw additional equity funding, as well as the right to borrow under a three-year credit facility.

“West Partners prides itself on only making investments in strong, well-run companies that show potential for long-term growth and success,” said Dennis O’Brien, president of West Partners. “D3 Banking’s commitment to replacing siloed, disparate channels with a consistent digital banking experience that uses data and analytics to provide Amazon-like financial services to the consumer makes this partnership an obvious choice.”