Keating Capital, a pre-IPO investor and business development company, has made an additional USD1m convertible note investment in SilkRoad, an existing portfolio company.
Keating Capital’s investment is part of a USD16m growth financing round completed by SilkRoad.
Other participants in the financing include Foundation Capital, Intel Capital, Azure Capital Partners and Crosslink Ventures.
SilkRoad intends to use the new funding to fuel ongoing product innovation across SilkRoad’s Life Suite talent management software to support company growth.
Chicago-based SilkRoad is a provider of cloud-based human capital management (HCM) solutions to small- and medium-sized businesses (SMBs). SilkRoad’s Life Suite is a cloud-based talent management system for SMBs, offering an integrated set of human resource management system, talent acquisition, and talent development applications that enable customers to find, attract, develop and retain the best talent. SilkRoad serves locations across North America, Europe and Asia-Pacific.
Keating Capital previously invested USD3.5m in SilkRoad’s Series C convertible preferred stock in March 2012, with an additional USD1.5m Series C investment in May 2012.
