Business Logic, the Chicago-based tech firm which provides back office Web and software support for 401(k) vendors, has received $26.8 million in a first round of funding.
The funding was provided by
efinanceworks,
Goldman, Sachs and
S1.
Further, Business Logic will also become a developmental partner of efinanceworks, a firm that focuses on accelerating e-finance business. efinanceworks is a joint venture of
General Atlantic Partners and
Capital Z Partners.
"Business Logic has a unique suite of application services for the
financial services community," stated
Stuart Katz, principal of the investment area at Goldman, Sachs. "Business Logic has successfully developed and deployed solutions that enable financial institutions to take full advantage of the Internet and to help their customers' access and control their financial data."
Business Logic provides Internet and services in the 401(k), mutual fund, and options arenas.
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