Zanbato raises $8M to developdata, technology practice

Zanbato, Inc. said it has raisedUSD8 million in Series B funding led by AITV (Accelerate-IT Ventures), withparticipation from existing investor Formation 8 and several prominent familiesand venture capitalists.

The company said it will use theproceeds to further develop its data and technology practice and to expand itsfootprint in private financial markets.

“Given the importance of privatecapital flows in today´s financial landscape, it is remarkable that private placementprocesses remain largely untouched by technological advancement. At Zanbato we see a path towardsremedying that,” said Nico Sand, Zanbato Chief Executive Officer. “Our missionlies at the intersection of building elegant, intuitive technology andsupporting the world´s largest and most sophisticated investors. With ourglobal network of partners and clients, we feel that we are well positioned toprovide efficiency gains and reduce fragmentation in private marketoperations.”

Founded in 2013, AITV is aUS-based venture capital firm with offices in San Francisco, La Jolla andLondon that invests in early-stage and medium-growth IT software companies thatdemonstrate tremendous opportunities for growth.

Formation 8 is a venture capitalfirm that provides financial and strategic capital to Enterprise Software,Analytics and E-Commerce companies.