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Keating leads $35m financing to expand SilkRoad ahead of IPO

16 May 2012

Keating Capital and NTT Finance have made their first investments in human resources company SilkRoad by leading a $35m financing round.

SilkRoad said it would use the Series C funding to support its planned worldwide expansion and product innovation ahead of an IPO either this year or next.

Existing investors including Intel Capital, Crosslink Capital, Foundation Capital and Azure Capital also took part in the oversubscribed round.

Keating Capital CEO Timothy Keating said, “SilkRoad has earned a reputation for product innovations that solve top talent management challenges.

“With business performance and employee engagement top of mind for many businesses, SilkRoad is poised for continued growth with the efficiencies its cloud-based, social talent management solutions deliver.

“In addition, we were impressed by the company’s management team, which has retained its founding visionary and includes industry veterans seasoned in bringing companies to public market.”

Keating specialises in making non-control pre-IPO investments in emerging growth companies.

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