US-based financial data provider YCharts has closed a $6m series C round led by investment research firm Morningstar.
The round, closed on May 4th, also featured Reed Elsevier Ventures, the corporate venturing arm of educational publisher Reed Elsevier, Illinois-based investment fund I2A, Amicus Capital Partners, Hyde Park Angels and undisclosed individual investors.
Billing as itself as ‘the financial terminal of the web,’ YCharts has developed a platform that provides financial data as well as analytical tools. It will invest the series C cash in expanding its sales team.
The series C round increased the company’s total funding to $14.5m since it was founded in 2010, including a $3.9m series B round in 2013 that featured all the named series C investors. Morningstar, I2A and Hyde Park Angels had all already contributed to a $3.25m round in 2011.
Ara Anjargolian, co-founder and chief technology officer of YCharts, said: “We knew from day one that it would take four to five years to build our platform to compete in the professional segment of the market. We got there in mid-2014, and now we’re scaling a world-class sales organisation.”
“We will never stop improving on the platform. Every month we’re adding functions and features sought by our clients.”