Blog Post

Edgar Online Gets $12 Million Funding From Bain Capital

Edgar Online (NSDQ: EDGR), the publicly traded financial information service which we first reported was out there raising money since August last year, has finally closed it: Bain Capital will purchase $12 million worth of 120K convertible Series B preferred stock of the company (at $100 a share). The money will be used to to boost its efforts in XBRL, the open data standard for financial reporting that it has pioneered and now been adopted by SEC, and also invest to expand its data and subscription offerings. At one point during this fund raising process, we had heard a complete sale of the company was on the cards, but it looks like that didn’t happen. More details in the release. Updated: The company has filed an SEC filing with some more specific details of the sale.