Mobile payments technology startup Cortex relocates HQ from California to Cambridge

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By , Tech Editor-Boston Business Journal


Shaunt Sarkissian, CEO, Cortex MCP

Mobile payments technology startup Cortex MCP announced that it relocated its headquarters from outside Los Angeles to Cambridge and will grow its grow its employee headcount from 20 to over 100 in the next 14 to 16 months, according to the company’s CEO.

The company, which specializes in building a more secure infrastructure in the mobile payments space that doesn’t require any hardware, has moved into dedicated office space in the Cambridge Innovation Center, but is now on the hunt for larger space within the Cambridge area. The company established an office in the CIC last year.

CEO Shaunt Sarkissian, who describes the company as “the Akamai of the mobile payments space,” said it has been angel funded and bootstrapped with less than $5 million since its founding in 2012. Sarkissian said the startup is in the process of raising a “much larger round,” which Sarkissian said would be “north of seven figures.” Sarkissian would not disclose the number of customers the startup has or revenue figures for the company.

The move from West Coast to East Coast was not an insignificant one for Sarkissian, but he said it makes sense.

“I’m a Silicon Valley guy born and raised,” said Sarkissian. “It’s becoming very evident you don’t need to be there anymore.”

Sarkissian mentioned the energy in Kendall Square, and the Boston area in general, as a big reason he decided to relocate here.

“You feel an energy that Silicon Valley used to have before a combination of political and social issues that are sort of plaguing the Valley,” he said.

Cortex said the firm expects its hiring binge to involve jobs in engineering, product development, marketing, sales and operational support.

Sarkissian said the biggest competition the startup faces is from other technologies.

“We’re driving a lot of the infrastructure out there,” he said. “We’re sort of the arms supplier. We’re trying to build the best weapon and let someone else win the war.”

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