Axial, a NYC-based online capital market for private companies, raised $14m in growth funding.
The round was led by Edison Partners with participation from existing investors Comcast Ventures, First Round, and Redpoint Ventures. Steve McLaughlin, founder of Financial Technology Partners, advised Axial on the financing round.
The company, which has raised more than $34m in total funding, intends to use the capital to scale the growth of its online capital market, develop new products for its member base, and expand the organization’s data, engineering, and business development teams.
Launched in 2010 by CEO Peter Lehrman, Axial provides an online capital market for private companies. The platform features search and matching technology to confidentially connect middle market CEOs to a qualified universe of M&A advisors, lenders and buyers as they look to grow or exit their businesses. Today, the network includes over 22,000 professionals, and over 11,000 firms, representing over $1b in closed transaction volume annually.
In addition to the funding, the company has added three senior leaders to the executive team:
– Howard Altman, VP of Engineering,
– Giff Constable, VP of Product, and
– Debbie Stevens, VP of Revenue Operations.
It has 95 employees.