Motorola Ventures, the corporate venturing division of US-listed telecommunications equipment supplier Motorola, has backed its KXEN portfolio company’s fourth round.
US-based data analysis company KXEN raised $8m in its series D round, led by venture capital firm NextStage Capital. Motorola Ventures returned alongside France-based venture investors XAnge Capital, in which French post office La Poste owns a 34% stake in its 2003 fund, and Sofinnova Ventures, as well as Saints Capital, which bought out France Telecom’s corporate venturing unit Innovacom’s interest in 2008.
One investor in KXEN said it was hoped that the D round would be the company’s final need for funding before an exit.
Motorola and XAnge had initially backed KXEN’s $9.8m series C round in 2004 after the company had raised an estimated $7.7m in its first two funding rounds after launching in 1998, according to news provider VentureWire.
The D round followed a change in management for KXEN in February. John Ball came in as its chief executive with founder and incumbent boss Roger Haddad moving upstairs to be chairman.
Ball, who had previously been general manager for analytics and reporting products at service company Salesforce.com, said: "This additional funding is a great vote of confidence in KXEN’s vision of how companies can optimize their business by using predictive analytics."
KXEN customers include Bank of America, Barclays Bank, Cox Communications, Lowe’s, Meredith, Overstock.com, Rogers, Vodafone and Wells Fargo.