Friday, February 24, 2012

Lumesis lands a $2.2M first funding round

By Patricia Resende, Correspondent

Web-based research tools provider Lumesis Inc. has received a $2.2 million Series A round of funding, according to documents filed with the U.S. Securities and Exchange Commission.

Safeguard Scientifics Inc., along with NextStage Capital LP and angel investor Jim Ashton, gave the Stanford, Conn.-based financial technology business $2.2 million of the $2.5 investment raised to support Lumesis’ product development and its sales and marketing efforts.

Tim Stevens, co-founder and president at Lumesis said the financial support from investors will enable the company to “deliver new enhancements to DIVER.” Lumesis’ web-based Demographic Information Visualization for Economic Research (DIVER) and its Continuing Disclosure Management (DSM) service does the “heavy data lifting so credit analysts, portfolio managers and underwriters can focus on other tasks.”

“Today is an exciting day in the history of Lumesis, but it’s just the beginning: we’ll be using the proceeds to make our current products even better and to launch products we’ve had in the hopper for a while,” the company wrote in its blog post on the Lumesis website. “We’re hoping to make our investors as happy about today’s news as we are. We know there is a long road ahead of us, but we’re proud to have taken a big step down that path.”