AxialMarket, a NYC-based marketplace for qualified buyers, sellers, and advisors representing privately held businesses, has raised $6.5m in Series A funding.
The round was led by Redpoint Ventures, with participation from Cove Point Holdings, and existing investors First Round Capital and Windcrest Partners.
The AxialMarket platform allows qualified private capital market participants (strategic buyers, financial sponsors, intermediaries and business owners) access a controlled, confidential and orderly marketplace to originate opportunities, engage qualified parties, and transact. It provides tools, education and services to enable entrepreneurs to efficiently identify, collaborate, and transact with strategic buyers and professional investors. Launched in beta in 2009, the platform has enabled over 8,800 private companies, representing over $150B in total revenues, manage and execute financial transactions. These transactions include M&A sales of mature, profitable bootstrapped companies, mezzanine and acquisition-based financing, mid-sized company recapitalizations, and growth-stage equity capital raises.
Founded as Cathedral Partners in 2007, AxialMarket changed its name in March 2010 to better reflect the company’s goals and mission.