Monitor110 raises $11m in series C funding
Monitor110, Inc., developer of the real-time Internet monitoring service for Institutional Investors, today announced the closing of an $11M Series C round of financing with new and existing investors.
0
External
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
The Company will use the funds to expand customer support, grow its sales organization and continue its leading-edge product development. Including this financing, Monitor110 has raised more than $20 million since its inception in December 2003.
Draper Fisher Jurvetson (DFJ) led the Series C round and was joined by existing Series B investors DFJ Gotham Ventures, Acadia Woods Partners and a select group of prominent Wall Street and Technology leaders. New investors include renowned angel investor Ron Conway, founder of San Francisco-based Angel Investors.
"The importance of the Internet as a resource for Hedge Funds and Institutional Investors grows every day" said Jennifer Fonstad, Managing Director of Draper Fisher Jurvetson "We are excited to increase our support of the Monitor110 team to enable them to focus on rolling out their unique subscription service and giving investors the tools they need to make better investment decisions."
Roger Ehrenberg, President and Chief Operating Officer of Monitor110, said "We were in the fortunate position of being well-funded and not currently in the market for additional financing. DFJ's leadership in driving the Series C round enables us to bring laser focus to our core mission - helping our clients make money by leveraging the powerful algorithms and analytical tools underlying the Monitor110 application." Jeff Stewart, Chairman and Founder of Monitor110, added "This investor support enables us to build a world-class product development and customer service organization, solidifying our role as a leader in 21st century financial intelligence tools."