AccessData, an e-discovery, cybersecurity, and digital forensics provider, has raised $45 million, for its first funding in the 26-year history of the company. First in 26 years?
Show me the money: The investment includes a $20 million equity trade from Sorenson Capital and $25 million in structured debt from Silicon Valley Bank. According to officials, the funding is designed to "reduce outside ownership and add Sorenson as a strategic, long-term partner."
Take the money & run: Prior to AccessData's fund raiser, Wolters Kluwer Corporate Legal Services (CLS), a legal content, process, and business peformance management provider, divested itself of the 25 percent interest in AccessData Group, taking the opportunity to focus on legal services.