WebFilings Raises $12.5 Million Series B

Posted Oct 5, 2010

WebFilings is a private financial reporting company that develops a cloud-based solution for meeting SEC reporting requirements. WebFilings has raised $12.5 million in Series B private placement of equity securities to new and existing investors. WebFilings raised a total of $24 million.

“Our ability to secure this funding, and to actually have the round come in oversubscribed, is recognition by our investors that the WebFilings solution has been well received and is bringing real value to our customers,” stated WebFilings CEO Matt Rizai. “We are the fastest growing company in our market space, providing what the industry has recognized as the best of breed solution.”

WebFilings simplifies the filing of SEC reports including the mandated XBRL reporting processes. Some of WebFilings customers include United Airlines, First Solar Inc., and Black Hills Corporation.