Startup consensus credit ratings provider Credit Bench- mark has raised $20 million in series B financing to help the vendor scale its platform and beef up its data management function with new hires in data science and data quality roles, as well as to fund a geographical expansion, starting with a new office in New York.
The funding was led by new investor Balderton Capital, and also involved existing investor Index Ventures, which invested $7 million in a funding round one year ago (IMD, July 9, 2014). Chief executive Elly Hardwick says the vendor initiated a formal funding round after receiving an unexpected amount of unsolicited interest in investing in the company, adding that it chose Balderton based on the firm’s experience and understanding of the capital markets.
