Axial, a New York-based online capital marketplace, has raised $14m in its Series C round. The company’s platform is designed to match private companies to find growth financing or M&A opportunities.
Edison Partners led the round with Comcast Ventures, First Round and Redpoint Ventures also participating. The round brings Axial’s total funding to more than $34m.
Axial says it’s used by more than 11,000 firms and sees 650 deals completed annually with more than $1bn in transactional volume.
Our true north is to dramatically transform how private companies access capital for growth or exit purposes. To do this, we must renovate the opaque, inefficient, and fragmented private capital markets, reconfiguring them to be in clear service to the CEO entrepreneur, said Axial founder and CEO, Peter Lehrman.
This round of financing enables us to continue making big investments that will move the private capital markets towards that ideal state.
The firm says that the capital will be used to continue investment in engineering and data science with artificial intelligence and machine learning a particular focus in order to improve its match-making algorithms.
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