Scivantage Raises $20M to Fuel Continued Growth and Product Innovation
ORIX Ventures, Comerica Bank, BBH Capital Partners and Edison Ventures Lead Latest Round to Support Client Demand and Strategic Partnerships
JERSEY CITY, N.J., Jun 23, 2014 (BUSINESS WIRE) — Scivantage®, a Global FinTech 100 technology provider of information-enabled software dedicated to transforming complex information and processes into intuitive user experiences for the financial services industry, announced today it has secured a $20 million round of funding to support the company’s continued growth driven by its broadening client base and strategic partnerships.
The capital raise included debt financing provided by Comerica Bank (Comerica) and ORIX Ventures (ORIX), as well as an additional follow-on equity round led by Scivantage’s existing investors Brown Brothers Harriman Capital Partners (BBH Capital Partners) and Edison Ventures.
This represents a new venture debt deal from ORIX and a recommitment from Comerica, BBH Capital Partners and Edison Ventures. The investment will be used to provide growth capital to Scivantage and enable the firm to focus on continuing to expand its footprint in the financial services industry through various development initiatives.