Intralinks, a provider of digital workspaces, has secured a further investment of $10m, which brings its recent round of funding to $50m. DB eVentures, Deutsche Bank's strategic private equity investment arm that is focused on financial services, as well as US private equity group Canaan Partners contributed this extra financing.
At the beginning of the year IntraLinks received $40m in new equity capital in a financing round led by Rho Ventures and investment affiliates of Soros Private Equity Partners LLC.
The company reports that the funds raised will be used for sales and marketing, technology development, and international expansion.
IntraLinks provides digital workspaces, which enable companies to work with external partners and international clients. Deutsche Bank is already a client and, as is increasingly common, this commercial relationship helped to precipitate an investment relationship.
Robert Hevner, managing director of senior debt capital markets at Deutsche Bank, said that Deutsche Bank has experienced first-hand how IntraLinks provides an effective and scalable system for communicating with other market participants. “We save both time and money on each transaction thanks to improved processes and faster turnaround, providing more efficient service to our counterparties,” he said.
IntraLinks posted sales of $13.2m in 2000, up 311 per cent from the previous year and bookings increased by 500 per cent. The company was founded in 1996. It has headquarters in New York and has offices in London, Boston and San Francisco.