The financing round follows Correlix's $750,000 contract with NYSE to supply its Correlix RaceTeam latency measurement service.
E-trading solutions start-up Correlix Inc. has raised $9 million from current shareholders in its third financing round, including $3.5 million by converting owners' loans into equity. Shareholder Xenia Venture Capital Ltd. (TASE:XENA) estimated the value of its 4.6% stake in the company at $5.8 million, giving a total company value of $120-130 million.
Correlix president and CTO Shawn Melamed founded the company in 2005. Prior to the current round, it raised $13 million from Genesis Partners, Sequoia Capital, Xenia, Blumberg Capital, and Vernon & Park Capital.
The financing round follows Correlix's $750,000 contract with NYSE Euronext Inc. (NYSE: NYX) to supply its Correlix RaceTeam latency measurement service, signed in January. The company previously signed a similar deal with Nasdaq.
Published by Globes [online], Israel business news - www.globes-online.com - on May 22, 2011
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