Kiodex secures $10 million in second round funding

Kiodex secures $10 million in second round funding

Web-based energy risk management solutions provider Kiodex has secured an additional $10 million in financing from Warburg Pincus, following the private equity firm's original $15 million investment in April 2001.

Kiodex plans to use the investment for expansion of the company as well as development of additional enhancements to its flagship software application, the Kiodex Risk Workbench.

Stewart Gross, senior managing director of Warburg Pincus and a member of the Kiodex board of directors, notes: "Every company needs to know what its energy exposure is at any time on a mark-to-market basis. This increased focus makes the services that Kiodex provides even more valuable to today's corporate marketplace."

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