Gridstone Research, a financial information and search company, has announced the closing of a Series B funding of $10 million. The investment was led by the existing backer Helion Venture Partners, and joined by the other existing investors such as Charles River Ventures and Maverick Capital.
Gridstone, founded by Basab Pradhan, former global head of sales of Infosys Technologies, sells a research platform for financial analysts that claims to combine financial data and vertical search technology. The funds raised will be used in further product development and to expand the sales force. Gridstone claims its value proposition is that it uses better search and semantic technologies for financial research - especially buy-side investment managers.
Helion Ventures Partners is a $350 Million India-focused, stage independent venture fund. It has invested in sectors like outsourcing, internet, mobile, technology products, retail services, education and financial services.

Posted on 04/10/08, 1:04 PM
in: Deals, Venture Capital
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