New York—EDGAR Online, which distributes public company filings, announced Friday that Bain Capital Ventures has agreed to purchase $12 million of its stock.
The shares are convertible Series B Preferred.
“This investment accelerates our ability to scale in support of the growing demands we see in our XBRL filings business and to deliver the next round of innovation we believe is needed in our data and subscriptions businesses,” EDGAR Online CEO Philip Moyer said in a statement.
Two representatives of Bain Capital, Jeffrey Schwartz and John Connolly, will be joining EDGAR Online's board.
Jordan, Edmiston Group represented EDGAR Online in the transaction.