Multex Systems Inc, New York, which claims to have the first on-line delivery service for full-text broker research reports has raised $11.5m in its fouth round of financing, doubling the total capital invested in the company to $23m. Contributors to this round included Chase Capital Partners and Softbank Holdings. Some 80 Wall Street brokers and independent research firms distribute their global equity and fixed income research products electronically through Multex’s on-line distribution channels which include MultexNet, Multex Publisher, Bloomberg, Reuters, and other financial information providers. It claims 8,000 subscribers representing over 1,000 financial institutions, and says the database includes more than 60,000 research reports online and is growing at over 1,500 reports a week. Other investors include AT&T Ventures, Automatic Data Processing Inc, Massachusetts Mutual Life, Euclid Partners and R R Donnelley & Co, the company said.
