AAA SilkRoad on track for IPO

SilkRoad on track for IPO

SilkRoad, a Chicago-based provider of human resource management software, has raised $35m in its series C round ahead of a planned flotation that could come as early as this year.

US-listed financial services providers Keating Capital and NTT Finance joined SilkRoad’s consortium as new investors alongside return backers Intel Capital, the corporate venturing unit of chip maker intel, and venture capital firms Crosslink Capital, Foundation Capital, Azure Capital and Tenaya Capital (formerly known as Lehman Brothers Venture Partners).

SilkRoad Equity (which is run by the executive chairman of the portfolio company, Andrew Filipowski), had previously invested $40m in late 2010 to develop its recruitment software.  In May 2008, SilkRoad raised $54m in its previous venture round.

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