Managed Objects will use the funding to provide the necessary working capital to support the company’s technology acquisition and market expansion program.
Managed Objects’ CEO Siki Giuntam said the McLean, Virginia-based company has a strong balance sheet on a revenue stream of about $35m. In June she had talked about the prospect of the start of IPO proceedings, but has since said that frothiness in the M&A market makes it unlikely, at least in the near term.
The venture-backed start-up is also funded by JMI Equity Fund, Lazard Technology Partners, Fidelity Ventures and iVisionary Ventures, Horizon Technology Finance, and Financial Technology Ventures.
