What Company Is Offering:
First Coverage provides a web-based platform that simplifies the gathering, evaluation and organization of all sell-side services and information. The First Coverage platform helps buy-side professionals easily and quickly find the information, data and other offered services that best align with their own internal investment process creating greater efficiencies and greater overall performance.
How Much They Got From VCs:
First Coverage Inc., a leading provider of financial information management solutions to the institutional investment community, today announced it has secured $9 million in Series B funding from a cross-border syndicate of venture capital investors led by Boston-based Commonwealth Capital Ventures. Also included in the syndicate are Boston-based GrandBanks Capital and Toronto-based JLA Ventures, both involved in First Coverage’s $5 million Series A round of financing in November 2006. This most recent expansion round will be used to further First Coverage’s growth via both product development and geographic expansion, among other activities.
In conjunction with this funding, Commonwealth General Partner Jeffrey M. Hurst will become a member of First Coverage’s Board of Directors. Mr. Hurst’s addition further strengthens the company’s expertise and experience, particularly in the relevant fields of Finance and Software as a Service (SaaS).
More at:www.firstcoverage.com.
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