Messaging is Hot

SarbOx email compliance software company Orchestria may be in a boring business, but it’s hot stuff, as the closing of its recent $21-million fourth round demonstrated:

Though Orchestria positioned the round as a strategic one — seeking only investors with contacts in key markets — Paul Johns, the startup’s vice president of marketing, said the deal was highly competitive nonetheless.
“This is probably the quickest round I have ever done,” Johns said. “We talked to 11 firms, had nine offers and received five term sheets before settling on Paladin.”