Zanbato raises $8M to develop data, technology practice
FinancialNews, Mar 7, 2015
Zanbato, Inc. said it has raised USD8 million in Series B funding led by AITV (Accelerate-IT Ventures), with participation from existing investor Formation 8 and several prominent families and venture capitalists.
The company said it will use the proceeds to further develop its data and technology practice and to expand its footprint in private financial markets.
“Given the importance of private capital flows in today´s financial landscape, it is remarkable that private placement processes remain largely untouched by technological advancement. At Zanbato we see a path towards remedying that,” said Nico Sand, Zanbato Chief Executive Officer. “Our mission lies at the intersection of building elegant, intuitive technology and supporting the world´s largest and most sophisticated investors. With our global network of partners and clients, we feel that we are well positioned to provide efficiency gains and reduce fragmentation in private market operations.”
Founded in 2013, AITV is a US-based venture capital firm with offices in San Francisco, La Jolla and London that invests in early-stage and medium-growth IT software companies that demonstrate tremendous opportunities for growth.
Formation 8 is a venture capital firm that provides financial and strategic capital to Enterprise Software, Analytics and E-Commerce companies.