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First Coverage Clears $9 Million Series B Round

Tuesday, June 03, 2008 5:33:00 AM PDT | VentureDeal Staff

Boston, Massachusetts -- Financial services software company First Coverage announced that it has received $9 million in its second round of institutional venture capital funding.

First Coverage operates a web-based financial portal for institutional investors that helps them initiate relationships, disseminate information, evaluate performance and aggregate ideas through its system.

Commonwealth Capital Ventures led the round, which included Grand Banks Capital and JLA Ventures.  The company said it will use the round to grow via both product development and geographic expansion.

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