Capital IQ secures $8 million additional funding

Capital IQ secures $8 million additional funding

Capital IQ, a provider of software to the investment banking community, has secured an additional $8 million in capital led by new investor Constellation Ventures, a Bear Stearns Asset Management VC fund.

The series C funding round also included additional investments from existing backers Dresdner Kleinwort Wasserstein, Northwood Ventures and Gamma Investors.

The Capital IQ platform combines public and private capital market intelligence, analytical tools, coverage management, transaction management, document distribution and group management tools. The two-year old company currently claims 250 installations worldwide.

The new funding will be used to continue the growth of the firm's global sales organisation, support the adoption of its platforms within the current customer base and to continue investing heavily in software development, says Steve Turner, Capital IQ managing partner.

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