Axial, a New York-based company that helps link private companies to sources of capital, raised some of its own Tuesday, announcing a $11 million round of series financing led by Comcast Ventures and joined by existing investors Redpoint Ventures and First Round.
Select Axial members also joined the new round, including Thomas W. Courtney, Jr., President of The Courtney Group.
Axial improves the speed and efficiency with which private companies access capital by connecting them to a qualified network of investment professionals and financial intermediaries. Each week, over 200 private companies create profiles on Axial to explore, prepare for, and pursue financial transactions, including acquisitions, equity capital raises, and debt financings. Since the company's launch in 2010, 23,000 private companies, representing more than $400 billion in revenue, have brought their deals to market on Axial.
"We are excited about the shifts happening at the intersection of financial markets, technology, and media," said Comcast Ventures principal Sam Landman in a statement. "Axial's marketplace dramatically improves the way capital markets meet the needs of middle market businesses. We're thrilled to be investing in this company."
