Chapter 2 Secures $50M
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Chapter 2, the provider of a global operating infrastructure for Internet-based business applications, Monday (Jan 29) announced the company received more than $50 million in financing.
The financing includes $15 million in private funding by American Express Financial Corporation and more than $34 million in additional private funding and equipment financing. Chapter 2 intends to use this round of financing to expand global operations and further develop its proprietary technology, Prasma, a self-healing, automated solution that continuously monitors the infrastructure for potential interruptions, and corrects them without human intervention before they occur.
Other new investors in Chapter 2 include Alliance Capital, RS Co-Investment Fund, Bayview Partners, Mentmore Holdings Corporation, and ThomVest holdings. Previous investors in Chapter 2 who also participated prorata in this round included Convergence Partners, Sand Hill Capital and CommVest LLC.
"The Chapter 2 Fortune 50-caliber global operating infrastructure frees our customers from complex operational demands and ensures that end-users have a consistent, reliable experience," said Ritu Raj, president and CEO of Chapter 2. "This substantial round of financing will allow us to focus on attracting more customers as well as investing in the infrastructure and talent necessary to position our organization for future growth."