CapitalStream sells to HCL Technologies for $40M
Founded before the dotcom boom, Seattle-based CapitalStream managed to pull in $75 million in funding during that era from a number of funds, most of whom subsequently abandoned the investment prior to a restructuring of the company.
The company makes a product called FinanceCenter that is used by financial institutions in the “front office,” where consumer and commercial lending operations take place. HCL, which is based in India, will help expand sales outside the US.
Three investors will receive a positive return from the sale, according to the Seattle PI’s John Cook: FTVentures, Voyager Capital, and Bank of America. The other investors in the company were Benaroya Capital, Mobius Venture Capital, Polaris Venture Partners, and Merrill Lynch.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.