Aug 03, 2016
Fuels Growth for Largest Online Capital Marketplace
PRINCETON, NJ, August 3, 2016 – Edison Partners proudly announced leading a $14 million financing of New York City-based Axial, the largest online capital marketplace connecting private companies to capital. Existing investors, First Round, Redpoint Ventures and Comcast Ventures, also participated in the round. Proceeds will bolster go-to-market expansion and continued product innovation.
Axial’s network of more than 11,000 capital providers and private companies uses the company’s online marketplace to identify and close M&A and growth financing deals. Last year, company revenue grew more than 50 percent with 7,000 deals initiated on its platform, resulting in more than $1B in completed transactions. “Axial is redefining how capital markets operate by providing transparency that removes the inherent inefficiencies in the deal process for middle-market investors, advisors and CEOs,” said Kelly Ford Buckley, Partner at Edison Partners and Axial board member. “The company’s active member base, differentiated technology and quality team are impressive. We are excited to help them accelerate growth and scale during this next stage of their journey.”
“Edison’s focus on driving and accelerating disciplined, profitable growth will strengthen our ability to power increased volume and continue to improve quality of deals,” said Peter Lehrman, founder and CEO at Axial. “Their passion for investing in and working with growth-stage fintech businesses, and a shared vision for transforming the way private companies access capital markets, solidified them as the right strategic partner.”
Axial is the eighth investment for Edison’s latest fund, Edison Partners VIII, which closed last month. It is also the firm’s fortieth investment by its Financial Technology practice. Notable exits include Edgetrade (NASDAQ: NITE), FolioDynamix (NASDAQ: ACTA), GAIN Capital (NYSE: GCAP), Liberty Tax (NASDAQ: TAX) and Princeton Financial. Current investments include: BFS Capital, Billtrust, Clearpool Group, Compliance Science, OptionsCity, Predata, Scivantage and Trader Tools.
About Axial
Axial (www.axial.net) is the largest online capital market empowering the growth and success of private companies. Axial’s dynamic search and matching technology enables the over 6,200 middle market CEOs in its network to more efficiently discover and connect with a growing online universe of advisors, investors and buyers as they look to grow or exit their businesses. Today, the network includes over 22,000 professionals, and over 11,000 firms, that initiate 600 deals each month, representing over $5b in deal revenue closed annually.
Headquartered in New York, NY, Axial is backed by First Round, Redpoint Ventures, Comcast Ventures, and Edison Partners.
About Edison Partners
For 30 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey and build successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and marketing technology industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team based in Princeton, NJ manages more than $1 billion in assets throughout the eastern United States.
