Mark Logic Closes $15M Third-Round Financing

I’m pleased to announce that Mark Logic has closed a $15M third-round financing, lead by Sequoia Capital with participation from Lehman Brothers.

The official press release is here.

As mentioned in the press release, this means that Mark Logic now has plenty of fuel in the tank to fund its future growth, specifically:

  • To expand our presence in our existing core segments of media (aka publishing) and government
  • To expand both domestic and international distribution channels (did you know we have created a UK subsidiary and already have 4 staff on board?)
  • To develop new vertical markets including financial services and life sciences

I’m coming up on 3 years at Mark Logic and when you compare our expected sales this quarter (3Q07) to the quarter I joined (3Q04), we will have multiplied the company 8-fold — that’s a 100% compound annual growth rate (CAGR) during that time period.

I’d like to thank Mark Logic customers for their business, belief, and support and to thank all Mark Logic employees for their contribution to this success.

I’d like to thank our investors for participating in this financing and say that it has been a pleasure to be associated both with Sequoia Capital (which has been behind so many of Silicon Valley’s great successes, and whose companies now account for something like 10% of the value of the NASDAQ) and with Lehman Brothers which has provided support in many ways, both financial and operational.

Finally, I’d like to thank Bob Clarkson and the team at Jones Day who supported us in closing this transaction.

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