Anika Sidhika
3 min read
Addepar, a platform for investment professionals, has raised $230m in a Series G funding round, pushing its valuation to $3.25bn.
The investment round was co-led by London-based Vitruvian Partners and returning investor WestCap of New York. It also included long-time investors 8VC and Valor Equity Partners, as well as new investor EDBI, which is part of SG Growth Capital, the investment arm of Singapore's Economic Development Board and Enterprise Singapore.
The company’s platform, which provides investment professionals with tools to make data-driven decisions, currently supports over $7trn in assets up from $5trn just a year ago. With more than 1,200 client firms in over 50 countries, Addepar continues to grow its global footprint, averaging $25bn in new assets each week.
Eric Poirier, CEO of Addepar stated: "This investment round reflects the deep trust our investors have in our mission, and the exceptional value we consistently deliver to our clients. Since day one, our focus has been on building a unified platform that equips investment professionals with advanced technology, precise data, and actionable insights essential tools for achieving extraordinary outcomes in today's rapidly evolving financial landscape.
“This funding aims to reward everyone who has contributed to our mission during our first 15 years and reinforces our commitment to empowering the world's leading firms with deep and lasting innovation. It ensures that our clients are empowered with the right technology, data and tools to navigate the full range of market conditions with confidence."
The newly raised funds will be primarily utilised to provide liquidity to workers and early investors through a tender offer, allowing them to participate in the company's growth. A portion of the funds will be used to expedite the development of Addepar's product suite and client services.
Moreover, Addepar is on target to become profitable in 2025 and continues to invest more than $100m yearly in research and development. It has established a reputation as a reliable platform for RIAs, family offices, large banks, institutional asset owners, and alternative fund managers, particularly during times of market uncertainty.
Luuk Remmen, Partner at Vitruvian Partners shared: "Addepar has established itself as a category leader in investment technology with a strong track record of innovation and measurable global impact. We're proud to bring more than capital to this partnership, offering strategic insight to help accelerate Addepar's next phase of global growth and extend its transformative solutions to more investment professionals worldwide."
