News – Finance Site Cashes In $40M Round

Another week, another financial service company tasting success in the private equity market.

This time around the big winner is Integral, an organization that boasts, a Web site for treasurers and chief financial officers to share business ideas online, as its signature product. The company managed to raise $40.4 million in its second week of venture funding.

“We had an initial round to help develop infrastructure,” said Chief Financial Officer Bruce Felt. “This round will really be used for expansion.”

Felt added that he considered it unlikely Integral would tap the private equity market again prior to the company’s initial public offering. There is no timeframe for the IPO at this point.

Pivotal Asset Management set the terms of the transaction and acted as the lead investor with a $5 million infusion. Pivotal was interested in making an even larger investment, but Integral wanted to ensure that all interested investors could participate, Felt said. Those additional participants included AIG, ABN Amro, Bain Capital, Nassau Capital and existing investor Accel Partners.

There was no minimum investment to participate in the offering.

Founded in 1993, Integral is a provider of business-to-business e-commerce solutions for capital markets companies. Current clients include Citibank, JP Morgan and Merrill Lynch while key partners include IMB and Sun Microsystems.

The company’s site serves as a portal where, in addition to sharing ideas, CFOs, treasurers and fund managers can transact business quickly and efficiently in non-listed products.