Wednesday, February 4, 2009

RenewData Digs Up More Funding

Austin-based RenewData Corp., a provider of electronic discovery software, announced Tuesday that it has received additional corporate financing from ATEL Ventures Inc. and Comerica Bank. RenewData declined to divulge the amount of the effort. The firm also did not detail if the funding was an equity or debt round; ATEL and Comerica usually provide debt financing to firms. However, the company did say it has now raised more than $55 million in capital. RenewData said the new funding will be used to finance growth and the development of a next-generation solution addressing "critical market needs" for information governance. RenewData is a privately held company headquartered in Austin. Its other backers include ABS Capital Partners and CIBC. More information »