Funding Fun

AxialMarket, an Online Network for Deal Professionals, Raises $6.5M

It's like Facebook, but for rich people.
 AxialMarket, an Online Network for Deal Professionals, Raises $6.5M

Peter Lehrman, AxialMarket’s CEO (firstround.com)

Here’s a quickie for your Tuesday evening: AxialMarket, an online network that connects potential buyers and sellers of private businesses, has raised $6.5 million, according to a Form D filed with the SEC.

According to Crunchbase, AxialMarket is an amalgam of corporations and investment companies that join the platform “to source deals, communicate and promote their firm’s acquisition and investment identity, and uncover opportunities to collaborate with other members.”

The company has largely managed to skirt an overabundance of hype while quietly collecting over 7,000 qualified members on their platform. Perhaps it’s because their idea isn’t as sexy as “sweet delivery spectacles” or “broadcast TV on your laptop.” But with $6.5 mil of fresh dough in their pockets, seems like it’s working out just fine.

Follow Jessica Roy on Twitter or via RSS. jroy@observer.com