Funds Clio Raises $20 Million
Name Clio
Target
accelerate product development and sales, and fuel international expansion
Investors Bessemer Venture Partners (BVP)
FUND Clio, the most comprehensive cloud-based practice management platform for the legal industry, announced recently that it raised $20 million in Series C financing led by Bessemer Venture Partners.
INVESTORS Bessemer Venture Partners (BVP) invests in early-stage, hyper- growth startups, partnering closely with entrepreneurs to build durable businesses. BVP is a global firm with offices in Menlo Park, Cambridge, New York, Mumbai, Bangalore, Herzliya, Sao Paolo and Minecraft. With $4 billion under management, BVP invests anywhere from $100,000 to $75 million in innovative companies like LinkedIn, Yelp, Skype, Cornerstone OnDemand, Pinterest, Box and Twilio. Over 100 BVP companies have gone public.
TARGET Over the next 12 months, Clio will use the new funding to accelerate product development and sales, and fuel international expansion. The Series C funding brings total capital raised to $27 million.
THE COMPANY Clio is the most comprehensive cloud-based practice management platform for the legal industry. With the help of the cloud, Clio eases the process of time tracking, billing, administration, and collaboration for law firms of all sizes. Based in Vancouver, B.C. and launched in 2009, Clio has legal professionals in 50 countries using the service.
WealthForge Concludes $2.5 Million Series A Fundraising Round
FUND WealthForge Holdings, Inc., a Richmond-based firm focused on servicing the new private equity investments market, has announced that it has closed its series A fundraising efforts during which it raised $2.5 million.
INVESTORS New Richmond Ventures, a Richmond-based investment firm, and SenaHill Partners, LP , a New York City-based merchant bank, were the lead strategic investors in the financing round which closed March 31.
TARGET “WealthForge is positioned to be the backbone of the emerging online private investment marketplace, including crowdfunding,”
said Fred Bryant, chief compliance officer and co-founder of WealthForge. “We are confident we have the right partners to help grow our business.”
THE COMPANY WealthForge Holdings, Inc. is a firm that enables online private investments – investments made in companies, particularly small businesses and startups that are not on a public exchange. WealthForge provides the technology and oversight needed to complete these private investment transactions within SEC regulations through its wholly-owned licensed broker-dealer subsidiary. Some of WealthForge’s services include compliance, investor verification, transaction processing, shareholder services, and access to larger pools of capital.
Name
WealthForge Target
help grow our business to be the backbone of the emerging online private investment marketplace, including crowdfunding
Investors
New Richmond Ventures and SenaHill Partners, LP
Name OpenFin
OpenFin Raises $4 Million in Series A Funding Round FUND
Target Product development and engineering team expansion in both New York and London.
Investors Bain Capital Ventures
OpenFin, a provider of secure HTML5 runtime technology for financial desktops, has announced that it has raised $4.0 million in a Series A funding round.
INVESTORS The round was led by Bain Capital Ventures, bringing OpenFin’s total funding raised to date to $7.0 million. Bain Capital Ventures is the venture arm of Bain Capital, which has approximately $70 billion of assets under management worldwide. The firm’s history of investing in early stage companies dates back to 1984 with over 125 venture investments since inception.
TARGET The funds will be used for product development and engineering team expansion in both New York and London.
THE COMPANY OpenFin provides runtime technology for financial desktop applications. The company’s patent-pending software enables desktop applications to be instantly deployable, interoperable and cross-platform while meeting the strict security and compliance requirements of financial institutions. Founded in 2010, OpenFin is backed by senior executives and entrepreneurs from the financial industry.
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www.finance-monthly.com
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