Not all technology funding has dried up. Trading platform specialist UNX today announced that it has raised an additional $4.4 million from Putnam Lovell Equity Partners in a series C round. This marks the Burbank, California firm's third round of financing and marked the first investment by Putnam Lovell. Prior investors included Blue Chip Capital, JP Morgan H&Q, Gazelle Tech Ventures and TA Associates.

UNX officials have earmarked the funds to expand its product offering and customer base and to grow its East Coast sales team. The upgrades will include a new intermediate release of its trading platform within a month (to version 4.6 from 4.5). A new major release (version 5.0) is expected in the next six months.

UNX, which is offers basket-trading on its platform, is aiming expand to its customer base beyond the hedge fund arena to a more broad institutional clientele.

Jeff Lovell, managing director of Putnam Lovell, also took a seat on UNX's board of directors as a part of the deal.

Related Stories

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE