CB Insights FundingFlash is the industry’s most comprehensive and real-time daily roundup of companies receiving venture capital, growth equity or angel funding. This morning’s CB Insights FundingFlash highlighted 28 companies who received a total of $171.8 million of financing in the last day and included news of Xenon Arc, a Redmond, Washington-based company.
Xenon Arc is a Redmond, Washington-based stealth software company, and it was reported in this morning’s FundingFlash that Xenon Arc has raised nearly $7 million. The funding comes as part of what is likely its Series A financing given the company was incorporated in 2010.
As of the writing of this brief, investors participating in the round have not been disclosed although CB Insights’ research indicates that growth equity investor, Weston Presidio, is participating and leading the round. The management team including founders Chad Steigers, Chris Jardine, Edward Lux and Adeline Honnas behind Xenon Arc appear to have formerly worked together at ChemPoint, a subsidiary of Univar, a chemical distribution company. ChemPoint was established in 2000 by Van Waters & Rogers as an online service for buying chemicals and tracking deliveries during the zeitgeist for B2B commerce.
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