Seasoned Entrepreneurs Will Drive the Company’s Next Phase of Accelerated Growth and Innovation
MOUNTAIN VIEW, Calif., July 10, 2013 – Addepar, the leader in smart technology platforms for global wealth and investment management, today announced the appointment of Eric Poirier as Chief Executive Officer and Karen White as President and Chief Operating Officer. On the heels of record growth in 2013, the veteran entrepreneurs join Addepar’s founding team and world-class Silicon Valley development organization to accelerate the company’s next stage of innovation and growth. Addepar co-founder Joe Lonsdale continues to serve in his current role as Executive Chairman of the Board, and co-founder Jason Mirra continues as Chief Technical Officer. Mike Paulus, who was among Addepar’s first employees and served as President, is now the company’s Chief Strategy Officer. Mr. Poirier and Ms. White have both been appointed to the company’s Board of Directors.
“Addepar’s success over the last few years has positioned us to scale very
rapidly and I can’t think of a better pair than Eric and Karen to help take us to
the next level as we emerge as a significant player on the global stage,” said Joe Lonsdale co founder and Executive Chairman of the Board Addepar. “Both Eric and Karen will tap their immense experience in building world class
companies to push Addepar to new heights. We’re grateful to have their
leadership, charisma and experience on our team.”
Addepar provides next-generation technology to the global finance market, empowering investment professionals to make data-driven decisions in order to fulfill their most demanding client needs. It is emerging as the new standard for the world’s most sophisticated wealth and investment managers. The new executive team was assembled to amplify the growth that Addepar has experienced by tapping leaders with a proven record of success and innovation in relevant fields.
As Chief Executive Officer, Eric Poirier will focus on driving continued growth
as well as technology and product innovation. Throughout his career, Eric has
demonstrated a unique ability to solve intractable data and scale challenges in
the financial sector with innovative technology. Eric was most recently at
Palantir, a multi-billion dollar software company that allows organizations to
make sense of massive amounts of disparate data. He joined the company in
2006 when Palantir was pre-revenue as a developer and one of its first 20
employees. Eric continually shaped the core technology there while building
the finance business, which now represents half of the company’s revenue
base. Previously, Eric worked in the Fixed Income Analytics group at Lehman
Brothers where he built tools to model, simulate and analyze data on a variety
of debt and credit instruments. It was at Lehman that Eric first became
passionate about reimagining large-scale financial technology, so that it
empowers professionals with transparent, unified data and powerful, intuitive
tools. Eric co-founded his first business in the industry when he was 15,
focused on massively scaling mission critical web sites with high performance
requirements, winning eBay and Priceline as customers. Eric graduated from
Columbia University with a B.S. in Computer Science.
As President and Chief Operating Officer, Karen will help scale operations and expand globally, managing sales, marketing, business development, finance,
operations and human resources. Karen has spent more than 25 years in the
technology industry as a successful operating executive and investor focused
on enterprise and business software. She was most recently CEO and
Chairman of the Board at Syncplicity, a cloud-based file management
company, which was acquired by EMC in 2012. She helped grow the
company to more than 30,000 business customers over three years.
Previously, Karen led worldwide corporate and business development at SolarWinds (SWI), a top network management software company. Karen joined SolarWinds while they were privately held and the company debuted its successful IPO in May 2009. Before SolarWinds, Karen served as managing director at Pequot Ventures, a private equity firm with $1.8 billion under management, where she established and led the software investing team in Silicon Valley. Karen was senior vice president at Oracle from 1993-2000, most recently heading worldwide business development. In her seven years at Oracle, she held a variety of executive management positions, reporting to CEO Larry Ellison and President Ray Lane, including senior vice president of worldwide marketing. Prior to Oracle, Karen was the CEO of Egis Inc., an international high-technology company focused on communications technology.
As President and Chief Operating Officer, Karen will help scale operations and
expand globally, managing sales, marketing, business development, finance,
operations and human resources. Karen has spent more than 25 years in the
technology industry as a successful operating executive and investor focused
on enterprise and business software. She was most recently CEO and
Chairman of the Board at Syncplicity, a cloud-based file management
company, which was acquired by EMC in 2012. She helped grow the
company to more than 30,000 business customers over three years.
Previously, Karen led worldwide corporate and business development at
SolarWinds (SWI), a top network management software company. Karen
joined SolarWinds while they were privately held and the company debuted its successful IPO in May 2009. Before SolarWinds, Karen served as managing
director at Pequot Ventures, a private equity firm with $1.8 billion under
management, where she established and led the software investing team in
Silicon Valley. Karen was senior vice president at Oracle from 1993-2000, most
recently heading worldwide business development. In her seven years at
Oracle, she held a variety of executive management positions, reporting to
CEO Larry Ellison and President Ray Lane, including senior vice president of worldwide marketing. Prior to Oracle, Karen was the CEO of Egis Inc., an
international high-technology company focused on communications
technology.
“Karen and I are thrilled to join Addepar’s extraordinary team, and we’re all laser focused on turning the company’s bold vision into reality,” said Eric Poirier, CEO of Addepar. “The ultimate roots of finance are the owners of wealth and their advisors, whether they be pension funds managing teachers’ and firefighters’ retirements, family offices, RIAs, insurance companies, or philanthropies managing their nest egg. Today, most of these allocators operate partially blind amongst thousands of closed platforms, with millions of hours wasted manually entering fragmented data and correcting errors. By solving the root problems in data aggregation and reporting with some of the top technology talent in the world, Addepar has created a platform that is starting to make global finance more data-driven and transparent at all levels.”
The global financial industry has been radically reshaped over the past five
years just as breakthrough technologies have changed the way the world
gathers and interacts with data. Yet the investment management industry has
remained largely hampered by inadequate legacy systems which were not
designed to meet the needs of today’s dynamic, complex and fragmented
industry, which now manages assets in excess of $120 trillion globally. The
market has quickly responded to Addepar’s technology platform in choosing
it to replace legacy systems. As a result, Addepar has experienced record
growth in 2013, with a market spanning Registered Investment Advisors, Family Offices, Foundations, Endowments, Wirehouses and Private Banks, as
well as Venture Capital and Private Equity firms and Fund of Funds.
About Addepar
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 addepar.com