Intalio, business process management software co., restarts with $2.3M
Intalio, a provider of business process management software, has raised $2.3 million in a so-called “recapitalization” financing round, according to VentureWire (subscription required).
It has offices in Palo Alto, Georgia and Geneva.
Such rounds typically occur because the company’s earlier incarnation didn’t do well and it needs to start again with a clean slate, i.e., to provide management incentives such as stock awards.
The company’s existing investors – Cargill Ventures, 3i Group, Sippl MacDonald Ventures, Woodside Fund and XML Fund – participated in the round, though another investor SAP Ventures pulled out.
The company said it expects to be profitable in the next quarter and doesn’t expect to take in any new funding
Prior to the recap, Intalio had raised $34 million in venture capital since 1999, according to VentureWire.
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