NEW YORK Intralinks Inc. said that it received $40 million of new equity capital this month to be used for sales and marketing, technology development, and international expansion.
Intralinks provides software to help the parties of complex transactions, such as syndicated loan agreements, collaborate over the Internet. Since April 1997 about 65,000 people have used the software on about 5,000 projects.
The latest round of funding was led by Rho Ventures and investment affiliates of Soros Private Equity Partners LLC. The participants included Emigrant Capital Corp., Lago Ventures, and previous investors Reuters, Patricof & Co. Ventures Inc. and Euclid Partners.
Intralinks sales last year jumped 311%, to $13.2 million, and its bookings increased 500%. Under a pricing plan introduced in March, its client base expanded to include six of the top 20 law firms, three of the top five accounting firms, and three major pharmaceutical companies.