LiquidHub raises $38M

LiquidHub Inc., a King of Prussia-based technology services company, said today it raised $38 million in a financing led by NewSpring Capital of Radnor.

The company said it will use the funds to make strategic acquisitions to enhance service offerings, add to its consulting practice, and expand into new industries and markets.

NewSpring Capital led a $20 million stock financing with a $7.5 million investment. Other investors were PPM America Capital Partners L.L.C. and Credit Suisse Alternative Investments. The $38 million financing included $18 million in loans by M&T Bank Corp, which has regional headquarters in Horsham.

LiquidHub, founded in 2001, has 350 employees in King of Prussia, and 125 employees in Cambridge, Ma., and Hyderabad, India.