SimplyTapp, the company that lays claim to the invention of host card emulation technology, today announced that it has raised $5.9 million in a Series B financing round from undisclosed new investors, as well as existing investors Blue Sky Capital and Lightspeed Venture Partners, bringing the total amount of funding raised to date to $7.6 million, according to a press release.

SimplyTapp said it will use the new funding to continue the development of its cloud-based secure element solution for NFC mobile payments, access control, and in-app payment solutions for banks, payment card issuers, transit authorities and retailers.

"We are thrilled to have this funding support after achieving several important company milestones this year so far," said Doug Yeager, co-founder and CEO of SimplyTapp. "Android devices now include near field communications HCE architecture for payments and many other verticals, allowing us to scale commercially, and in June we announced that VISA Inc. and MasterCard Worldwide Inc. support our effort to lead the adoption of mobile payment experiences."