#USA #New York #investment technology #Addepar #Series G

Addepar Secures $230 Million in Series G Funding

Addepar, a prominent global technology and data platform favoured by investment professionals for making informed and data-driven investment decisions, has successfully completed its Series G funding round, raising an impressive $230 million. This funding round is significant not only due to the amount raised but also because it indicates strong investor confidence in Addepar's mission and the value it provides to its clients.

The round was co-led by Vitruvian Partners, based in London, and WestCap, a New York-based investor known for its innovative approaches. They were joined by established partners such as 8VC and Valor Equity Partners, alongside EDBI, which operates under SG Growth Capital of the Singapore Economic Development Board. This diverse group of investors suggests a robust belief in Addepar's capabilities and growth potential.

Over the past year, Addepar has demonstrated remarkable growth, now managing assets worth over $7 trillion, up from $5 trillion previously. The firm is not just expanding its asset management capabilities; it's also acquiring new clients at an enviable rate, averaging more than $25 billion in new assets weekly, demonstrating its appeal across various markets.

Addepar has solidified its position as the preferred platform for single-family offices, registered investment advisors (RIAs), large banks, institutional asset managers, and alternative fund managers. With a user base comprising hundreds of thousands worldwide, the platform has become a leader in technology and data for wealth management, particularly during volatile market conditions when the need for reliable data is critical.

Eric Poirier, the CEO of Addepar, expressed gratitude toward the investors for their confidence in the company's mission. He stated, "This funding round reflects the immense trust that our investors have in our mission and the exceptional value we provide to our customers. From day one, we have focused on developing a unified platform that equips investment professionals with advanced technology, precise data, and actionable insights—essential tools to achieve outstanding results in today’s rapidly evolving financial landscape."

The $230 million raised in this funding round will primarily be utilized to provide liquidity for employees and other stakeholders through a buyout option, allowing them to realize the value of their contributions. Furthermore, it is intended to accelerate investments in innovation and enhance customer capabilities, helping companies differentiate themselves in an increasingly competitive market.

Addepar consistently invests over $100 million annually in research and development, with the goal of reaching profitability by 2025. The company prides itself on offering exceptional customer satisfaction and retention, strong revenue growth, and rapid innovations in product development.

Luuk Remmen, a partner at Vitruvian Partners, praised Addepar's established record of innovation and its global impact, saying, "Addepar has established itself as a market leader in investment technology. We are proud to contribute not just capital but also strategic insights to accelerate the next phase of Addepar's global growth."

Likewise, Jaime Hildreth from WestCap highlighted the alignment of their vision with that of Eric Poirier and the Addepar team, expressing a commitment to collaborate further in shaping the future of investment management.

Founded in response to the global financial crisis of 2008, Addepar has focused on providing investment professionals with superior data and insights, setting a new standard among top asset managers and investors around the globe. Joe Lonsdale, a partner at 8VC and co-founder of Addepar, remarked, "Addepar is building the global operating system for investment professionals—connecting data, insights, and actions on a powerful platform."

With current economic uncertainties and market volatility, Addepar is uniquely positioned to double down on its innovation and expand its platform, enabling customers to manage risks effectively while delivering value to their clients with increased speed and accuracy.

As Addepar continues to grow, it is focused on making a long-term impact on global markets by empowering firms to act with clarity and confidence. With its integrations across over 100 software, data, and service partners, the open platform of Addepar accommodates a wide range of companies and use cases, proving its versatility and commitment to excellence in the financial sector.

Conclusion

As the investment landscape evolves and faces new challenges, Addepar's significant funding in the Series G round is a testament to its leadership and innovation in investment technology. The company's commitment to research, development, and customer service continues to set it apart in the marketplace, ensuring its growth and success in the years to come.