Addepar Secures $230 Million in Series G Funding Round
Vitruvian Partners and WestCap have co-led a significant investment round for Addepar, a premier technology and data platform trusted by investment professionals. With the company successfully closing a Series G round totaling $230 million, this funding will be crucial in furthering its mission to empower wealth managers worldwide.
Significance of the Investment
The new funding comes as Addepar continues to expand its influence and capabilities within the global investment landscape. The participation of respected firms such as Vitruvian Partners and WestCap demonstrates deep trust in Addepar's vision and the substantial value it provides to its clients.
Steady Growth Trajectory
Addepar's platform is currently managing over $7 trillion in client assets, a notable increase from $5 trillion just a year prior, indicating its rapid growth and market acceptance. The company consistently adds more than $25 billion in new assets weekly and serves over 1,200 firms across more than 50 nations.
Leadership Insights
CEO Eric Poirier remarked, "This investment round reflects the deep trust our investors have in our mission, and the exceptional value we consistently deliver to our clients." He emphasized the importance of their unified platform which provides investment professionals with cutting-edge technology and actionable insights.
Focus on Innovation
Addepar is committing over $100 million annually to research and development, which underscores its focus on innovation. The Series G funding will also allow the company to provide liquidity to employees and investors through a tender offer, thus realizing the value of their contributions effectively.
Strategic Partnerships
Vitruvian Partners expressed pride in their continued partnership with Addepar, underscoring the firm's strong track record of innovation and measurable global impact. Similarly, WestCap is excited about deepening their collaboration, focusing on pioneering solutions for today’s wealth management landscape.
Building the Future of Investment Management
Addepar's founders created the company in response to financial challenges faced during the 2008 crisis. Since then, it has focused on providing investment professionals the best tools to navigate market uncertainties effectively. As it continues to grow, Addepar aims to redefine how capital is managed across the investment ecosystem.
About Addepar
Addepar is a global technology company that empowers investment professionals with comprehensive tools and insights. Over the last decade, its platform has been pivotal for firms managing assets totaling over $7 trillion, providing integrated portfolio, market, and client data. The company maintains a flexible workforce with offices around the world, ensuring adaptability and innovation.
Frequently Asked Questions
What was the total amount raised in the Series G funding round?
Addepar successfully raised $230 million in its Series G funding round.
Who led the Series G investment round for Addepar?
The Series G round was co-led by Vitruvian Partners and WestCap.
How much client assets does Addepar currently manage?
Addepar currently manages more than $7 trillion in client assets.
What is Addepar focusing on with the new funding?
The new funding will aid in providing liquidity to employees and enhance investment in innovation and client capabilities.
What year was Addepar founded?
Addepar was founded in response to the 2008 global financial crisis, focusing on empowering investment professionals.
