Midaxo, a Helsinki, Finland-based developer of a cloud M&A platform, raised $16m in funding.
The round – which brings total funding to $23m – was led by Idinvest Partners, with participation from existing institutional investors Tesi (Industry Investment) and EOC Capital.
The company intends to use the funds to expand its global reach after establishing its base in the US, With the new investment, and deploy artificial intelligence technology to assist and enhance its customers’ M&A activity.
Led by CEO Ari Salonen and Head of Product Kalle Kilpi, Midaxo provides a cloud software platform that allows companies to run M&A and corporate development projects, from target identification and due diligence to integration.
Midaxo has 70 employees across four offices in Boston, Helsinki, Amsterdam, and Riga, and a customer base of hundreds of corporations, consultants, and private equity firms, including over 40 companies on the Fortune 1000 list, such as HP Enterprise, Philips, Daimler, and Verizon.