Master data management (MDM) platform provider Siperian says it has closed an oversubscribed $25 million Series E financing. Led by new investor, Investor Growth Capital (IGC), and with participation from 100 per cent of Siperian’s existing investors, the funding will be used to continue the company’s European expansion, accelerate channel development and further advance the development of the Siperian MDM Hub.
Noah Walley, managing director at IGC, has joined Siperian’s board of directors.
Siperian’s volume of business has more than tripled year-over-year from fiscal 2006 to 2007, it says, and it has achieved profitability. Its customers now include a growing number of Global 500 companies in North America and Europe. The company has also expanded its “partner ecosystem”, which it reckons enables its customers to leverage their existing investments, improve their return on investment and achieve faster “time-to-value”.
Siperian’s partners in the financial services reference data space include Avox, CounterpartyLink and Capco.