New Funding for Credit Scoring Firm eBureau

 
EBureau LLC, a St. Cloud, Minn.-based predictive scoring and information technology developer, has raised $12 million in Series B funding led by Redpoint Ventures, a Silicon Valley-based venture capital firm, along with existing investor Split Rock Partners. The financing, which brings eBureau's total raised capital to date to $28 million, will be used to expand eBureau's product development, sales and marketing activities.

“We spent our first three years trying to develop our products,” said Jeff Liebl, eBureau vice president of marketing and business development. “Now that we have our predictive scoring [technology] doing very well, we wanted to concentrate on a lot of marketing and sales.”

The funding source will help with those efforts, Liebl added. As part of its investment in eBureau, Redpoint Ventures partner Chris Moore will join the eBureau board of directors, effective immediately. Moore, who focuses on consumer Internet, online marketing, and business services opportunities for the firm, led the investment in Right Media, recently acquired by Yahoo!, and was actively involved in Redpoint's investment in MySpace. As a result, Moore has a lot of industry and business connections that should help company’s growth efforts.

Michael Gorman and Jim Simons, managing directors with Series A investor Split Rock Partners, will continue to serve on eBureau's board of directors.

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