Axial helps private companies (as well as those that advise them) gain access to investment firms and other financial organizations necessary for making transactions, acquisitions, and the like. It’s kind of like a LinkedIn for finance pros and business leaders.
The startup claims to have 200 new private companies setting up profiles on its platform every week. It has a total of 23,000 companies signed up since launching in 2010, including professionals from GE Equity, BB&T, Johnson & Johnson, Summit Partners, CVS, Hershey’s, and others.
The funding round, Axial’s second, was led by Comcast Ventures, with participation from existing investors Redpoint Ventures, First Round, and Thomas W. Courtney Jr.
Axial said it plans to use the new capital to further develop its financial network and make it even easier for middle-market private companies to find investments.
Founded in 2010, the New York-based startup has raised a total of $20 million in funding to date.