BitPay works with approximately 30,000 businesses including Tiger Direct, Virgin Galactic and WordPress to help them accept bitcoin payments. Startup plans to use the latest round of funding to hire another 70 staff over the next year and focus on establishing a presence in North America, South America and Europe.
After bitcoin was created in 2009, some early adopters trying to bootstrap virtual currency companies with mixed results. Because bitcoin prices began to skyrocket and get more media attention, a new crop of startups entering the space and attract big name VC.