ADDEPAR IS POISED FOR HIGH GROWTH AS IT TRANSFORMS HOW SMART INVESTMENT DECISIONS ARE MADE DELIVERS THE FIRST INTERACTIVE INVESTMENT ANALYSIS AND REPORTING TECHNOLOGY ON A COMPREHENSIVE FINANCIAL DATA PLATFORM
MOUNTAIN VIEW, CA – May 13, 2014 – Addepar, a leading financial technology platform for the $120 trillion investment management industry, announced that it has raised $50 million in its Series C financing. The round was led by Yammer founder and former PayPal COO David O. Sacks and Valor Equity Partners, backers of transformative companies including Tesla, SpaceX and Solar City, with additional participation from Formation 8 Partners. Renowned money manager Stanley Druckenmiller and real estate mogul Harrison LeFrak were among others completing the round. The new funding will be used to accelerate the company’s growth. Addepar had raised $16 million in previous funding rounds through investors including Peter Thiel and Blumberg Capital.
“Given the increasingly complex financial landscape, smart investment managers are demanding technology that gives them complete and immediate visibility into their investment portfolios,” said Eric Poirier, Addepar Chief Executive Officer. “We’ve built a capability that simply didn’t exist before. We have more than quadrupled our business this past year by bringing on some of the most demanding firms in this market as clients. They are on Addepar because it enables them to make smart, data-driven investment decisions and to communicate clearly and continuously with their stakeholders. The technology handles all data for even the most complex portfolios and makes interactive analysis and reporting intuitive and scalable so that investment managers can focus on adding lasting value to their clients.”
“Addepar brings Silicon Valley innovation to a massive set of challenges faced by the financial services industry,” said incoming investor and Yammer CEO David O. Sacks. “The global financial markets have become exponentially more complex in the last 20 years, yet financial technology has virtually stood still. There is an enormous gap between what the industry needs and what legacy products can deliver. As an Addepar user, I know first-hand how unique the product is, and I see an extraordinary opportunity to disrupt the industry with this technology.”
Joseph Piazza, Chairman and CEO of Robertson Stephens, LLC and an Addepar customer said, “Addepar gives us a technology platform that lets us do what we do best. They provide complete and customized performance reporting and analysis to each client
Addepar is the financial operating system designed to bring common sense and ethical, data-driven investing to our financial world. Addepar handles all types of assets in any currency so investors and advisors have a clearer financial picture at every level, all in one place. With customizable reporting, financial advisors can visualize and communicate relevant information to anyone who needs it. Secure, scalable, and fast, Addepar is purpose-built to power the global financial system. With offices in Silicon Valley, New York, Chicago and Salt Lake City, Addepar works with more than 200 single and multi-family offices, wealth advisors, large financial institutions, endowments and foundations representing more than $500 billion assets under management. Learn more at www.addepar.com
Bateman Group for Addepar