Intalio, business process management software co., restarts with $2.3M
Intalio, a provider of business process management software, has raised $2.3 million in a so-called “recapitalization” financing round, according to VentureWire (subscription required).
It has offices in Palo Alto, Georgia and Geneva.
Such rounds typically occur because the company’s earlier incarnation didn’t do well and it needs to start again with a clean slate, i.e., to provide management incentives such as stock awards.
The company’s existing investors – Cargill Ventures, 3i Group, Sippl MacDonald Ventures, Woodside Fund and XML Fund – participated in the round, though another investor SAP Ventures pulled out.
The company said it expects to be profitable in the next quarter and doesn’t expect to take in any new funding
Prior to the recap, Intalio had raised $34 million in venture capital since 1999, according to VentureWire.
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Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.
