Fina Tech Finds $4.5M A Round

Xconomy Boston — 

[Updated and corrected: 11:06 Eastern, 12/17/09] Fina Technologies, a Cambridge, MA-based startup with computer-modeling software for the financial services industry, said today it has raised $4.5 million in a Series A round of venture capital. Reed Elsevier Ventures led the round, which included an investment from Excel Venture Management. Fina is a spinout of Cambridge-based Gene Network Sciences, which invented Fina’s software and has used the technology to make detailed computer models of biological systems for companies like New York-based drug giant Pfizer to help them develop drugs. [Correction: An earlier version of this story mistakenly said that Fina’s technology was for the life sciences industry, but the firm is actually taking technology originally developed for life sciences research and applying it to clients in financial services.]