Tuesday, September 05, 2006

Exeros Secures $12M in B-Round Financing: Financial News - Yahoo! Finance

"Exeros(TM), Inc., an innovator in data mapping and automated data relationship discovery software, announced today it has secured an additional $12 million in a Series B round of private equity financing. This round of funding is led by AllianceBernstein Holding L.P. (NYSE: AB - News), with Exeros' original investors Bay Partners and Globespan Capital Partners participating. The Series B round of funding will be used to grow the sales team, add sales coverage in new geographies and to grow the engineering team in order to extend the product line."

IPO Potential: 2
M&A Likelihood: 7
Likelihood for subsequent round of financing: 8
Potential Acquirors: BI players, database vendors, Oracle, IBM, Sybase, others.
Current acquisition range: $20-$50M

Notes:The company had planned to raise $10-$20m earlier in the year. It's quite odd that AllianceBernstein would come in as a lead investor given AB's focus on later stage and PE type opportunities. Nonetheless this is a decent series B deal. Solid early stage investors (Bay, Globespan) and a strong management team with particular domain expertise in data integration - Informatix, IBM, Sybase, Informatica. Market timing and acquisition pace for ETL, EII companies is robust. Look for the company to raise another round next year (after showing further, if any, customer traction) and get acquired by a database vendor looking to fill a product gap.

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