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Web Payment Firm Gets $2M Financing

The online payment provider oneTXT Inc. announced Monday that it has received $2 million in Series A financing and named Lucy Hood to its board of directors.

The financing round was led by Metamorphic Ventures in New York. Other participants included KPG Ventures and New York Angels Fund.

Hood is the executive director of the University of Southern California's Marshall Business School Institute for Communication Technology Management. Before that, she was the chief executive of News Corp.'s Jamba unit.

OneTXT, a New York company, offers payment processing for social networks and online games.

"OneTXT approaches the marketplace with a belief that transactions between audience members and the social media brand itself are the true business model for all social media," Roger Wood, its chairman and chief executive, said in a press release.