TruMarx closes $7.2 million deal


TruMarx Data Partners, Inc. raised $7.22 million in venture funding in a deal led by HBS Angels Alumni Association on October 25.

Cornerstone Angels, Bob Green, Tom Price, and B-Con LP also participated in the round.

Chicago-based TruMarx was co-founded in 2007 by Jon Olson, Michael Mackey, Glenn Smart, and Charles Reese. The company delivers information and technology services for the financial and energy industries.

TruMarx is a developer of a cloud-based platform, COMET, intended to facilitate the negotiation and execution of bilateral OTC (over the counter) transactions. The company’s electronic tools are designed to increase profitability, streamline compliance and trading efficiency, and gain compelling, competitive advantage for OTC energy participants.

Claiming over 260 corporate subscribers and over 1000 individuals users, COMET, with its full audit trail, customizable contract and publishing features, provides an effective means to confidentially negotiate and execute an OTC transaction.

Platform features include electronic and confidential posting of a requirement, one-to-one negotiation of terms, automated transaction confirmations, and more.

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