IBSN secures $6 million funding
09 December 2004 | 1423 views | 0
IBSN, a Colarado-based provider of order routing and integration systems for the securities industry, has secured $6 million in series A funding in a round led by Vista Ventures, a venture capital firm focusing on investments in technology companies.
Equity firms OCA Ventures, Appian Ventures, SAP Ventures and Grayhawk Venture Partners also participated in the round. As part of the deal, Catharine Merigold, a partner at Vista Ventures, and John Dugan, a partner at OCA Ventures, will join the IBSN board.
IBSN customers use its technology to connect to new and existing trading partners to increase trading flows, integrate with existing systems and achieve straight-through processing. The vendor's clients include NASDAQ, NASD, NSX and Scottrade.
Lou Faust, the newly appointed CEO of IBSN, says: "This capital will enable us to expand our sales and marketing initiatives and to further develop our product offering."