BondLink, a Boston, Mass.-based provider of software to issuers in the municipal bond market, raised $10m in Series A financing.
The round was led by Franklin Templeton Investments with participation from Coatue. In conjunction with the funding, Robert Stevenson, vice president, portfolio manager and research analyst for Franklin Templeton Investments’ Franklin Equity Group, will join BondLink’s board of directors.
The company intends to use the funds to accelerate and expand adoption of its software to the public sector bond issuers across the United States.
Led by founders Colin MacNaught, CEO, and Carl Query, CTO, BondLink provides a cloud-based software-as-a-service investor platform to issuers who rely on private capital to fund the construction of roads, bridges, schools, tunnels and other public infrastructure.
Since its investor platform went live last year, states, counties, cities, school districts, universities, hospitals, public utilities, and ports have started using BondLink to share data and communicate more efficiently with bond investors.
Users include the State of Florida, the City of Chicago, and the University of Texas to California.