Axioma Secures $22.5 Million Investment
Funding to Drive Product Expansion
and Global Sales Initiatives
NEW YORK, Dec. 28, 2007-Axioma, Inc., a leading global provider of decision support, risk analysis and portfolio rebalancing tools for the financial services industry, announced today that it secured a minority investment of $22.5 million in a financing round led by New York-based Salmon River Capital. TL Ventures, a return investor, also participated in the round.
The new funding will be used to accelerate the expansion of Axioma's product line, to support the rapid growth of Axioma's revenues and profits, and to further enhance the development of the company's global sales and distribution initiatives.
Sebastián Ceria, Ph.D., Axioma's founder and Chief Executive Officer, said, "We are pleased to have completed this latest round of funding, which will help to fuel the continued expansion of Axioma's innovative product line and the increased penetration of our target markets worldwide. We are also delighted to welcome Salmon River Capital to our board, and we look forward to benefiting from their counsel and extensive experience in the financial technology space."
Leading financial institutions and investors use Axioma's products to make improved investment decisions, optimize portfolios, and assess and mitigate risk. Clients, which include Goldman Sachs, AQR, Deutsche Bank, ING, Schwab, State Street, Putnam, Alliance Bernstein, and T. Rowe Price, use its products to manage over $1.0 trillion in securities. This customer base is growing rapidly, as portfolio managers increasingly use quantitative tools to drive alpha, manage increasingly complicated portfolios, and improve the efficiency of the investment process.
"Axioma leverages industry-leading science and market-proven technology to serve a wide range of the industry's most demanding customers," said Salmon River Capital's founder and Managing Principal S. Joshua Lewis. "Axioma is an emerging leader in its market and an exceptional company. We look forward to a long partnership." Mr. Lewis will join Axioma's board of directors.
About Axioma
Axioma, Inc. develops and markets innovative risk analysis, portfolio rebalancing and performance attribution products for the financial services industry. Founded in 1998 and headquartered in New York with additional offices in Atlanta, San Francisco, London, Hong Kong, and Singapore, Axioma helps leading financial firms manage risk, increase returns and improve operational efficiency. For more information about Axioma, please contact Reid Gearhart at 914.734.1191, Ellen Kiernan at 212.991.4503, or visit the company's website at www.axiomainc.com.
About Salmon River Capital
Salmon River Capital is a specialized private equity/venture capital firm focused on building, in partnership with management, exceptional, technology-enabled companies. Areas of focus include financial services technologies and information utilities. Salmon River leverages a broad set of capabilities and an unusually flexible capital base. For more information about Salmon River Capital, please contact Matt Evans at 212.931.5358, or email info@salmonrivercapital.com.
About TL Ventures
TL Ventures (www.tlventures.com), established in 1988, has over $1.4 billion under management. Focused on venture investing in category-defining, early-stage companies in software, communications, information infrastructure and business services, the Firm provides portfolio companies with operational, entrepreneurial and financial expertise and a global network of resources and contacts.
