June - 2015 - issue > Venture Chakra
Enterprise Cloud Communication Firm, Actiance Raises $28 Million
SI Team
Monday, June 1, 2015
Actiance Inc. has raised a new late-stage growth investment of $28 million in a round that included new investor, Golub Capital along with previous investors, Credit Suisse NEXT Investors, JK&B Capital, Scale Venture Partners, and Sutter Hill Ventures.
Founded in 1998, Actiance offers an enterprise-grade platform that can be integrated into existing infrastructure to improve internal communications. The company's recent cloud-based content store for email and social communication channels called Alcatraz is said to be gaining strong traction in the financial services and insurance industries.
Actiance enables organizations to use Unified Communication, Enterprise Social Software, Instant Messaging, social networking, and custom-built enterprise apps it needs with the regulatory, legal, and corporate compliance it requires. The company works closely with regulators including the SEC, FINRA, IIROC, and the PRA and FCA, and with their customers to ensure that their platform meets the most stringent requirements. Actiance is seeing significant demand of their solutions in Europe and is planning to open data centers in Frankfurt and Amsterdam this quarter in an effort to grow their total addressable market.
On asking to brief on the funding round and future plans, Kailash Ambwani, CEO at Actiance said, "We are excited about the shared commitment that our investors have in Actiance and our vision. This investment will help us rapidly innovate and serve our customers as we unveil groundbreaking products. We will continue to anticipate market needs and scale our business to deliver solutions around the world." Actiance will use the new funding to invest in go-to market for Alcatraz, and instill new capabilities into it.

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