Wednesday, November 5, 2008

Report: Memento raises $10M in fourth financing round

By Mass High Tech Staff

Memento Inc., a maker of fraud and compliance software, has pulled in $10 million in Series D financing, according to published reports. The investment was made by Boston-based Bain Capital Ventures and .406 Ventures, as well as Rock Maple Ventures in New York.

Memento has raised a total of about $12 million, website PE Hub reported.

In April 2007, the Concord-based security software developer closed on a $7.5 million Series C round of venture capital funding, with .406 Ventures leading the round.

In 2005, Bain Capital led the company’s $3 million second-round financing deal.

Memento announced in June that it had formed a strategic partnership with Minnesota-based Fair Isaac Corp., a developer of analytical software and data management products and services. Although no financial terms were disclosed, the deal entails Fair Isaac’s offer of Memento Security fraud software to global financial services companies.

Founded in 2003, Memento designs software to detect internal fraud.