Firm58, Inc., a Chicago, IL-based financial management software provider, has closed a $7m Series C funding round.
The investment was led by existing investors New World Ventures and North Bridge Venture Partners, which led the Series B financing in May 2008. This round brings the total funding amount to $19.2m.
The capital infusion will be used to accelerate the expansion of the company, which offers a Software as a Service (SaaS) platform to manage fees, commissions, and payouts including billing, profitability and expense reporting, and compensation.
The company also operates a branch office in New York.