Addepar Secures $230M in Series G Funding to Accelerate Global Expansion in WealthTech
Addepar, a leading technology and data platform for investment professionals, has recently raised $230 million in a Series G funding round, bringing its valuation to an impressive $3.25 billion. This funding round was co-led by the London-based firm Vitruvian Partners and returning investor WestCap from New York, along with contributions from existing investors 8VC and Valor Equity Partners. Notably, Singapore’s EDBI also joined as a new investor through SG Growth Capital, a platform of the Singapore Economic Development Board and Enterprise Singapore.
About Addepar
Founded in the wake of the 2008 financial crisis, Addepar has developed an integrated platform that assists investment professionals in managing over $7 trillion in assets across more than 1,200 client firms in 50 countries. The platform caters to a diverse clientele, including:
- Single-family offices
- Registered Investment Advisors (RIAs)
- Large banks
- Institutional investors
- Fund managers
Utilization of Funds
The newly acquired capital will primarily be used to enhance liquidity for employees and other investors via a tender offer. Additionally, a portion of the funding will support ongoing investments in research and development (R&D) and client-facing capabilities, aiding Addepar in its mission to foster innovation and streamline product development.
Investment in Research and Development
Currently, Addepar invests over $100 million annually in R&D and aims to achieve profitability by 2025. According to CEO Eric Poirier, “This investment round reflects the deep trust our investors have in our mission and the exceptional value we consistently deliver to our clients.”
Strategic Growth and Client Empowerment
Poirier emphasized the company’s commitment to creating a unified platform that provides investment professionals with advanced technology, precise data, and actionable insights. He stated, “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.”
Comments from Investors
Vitruvian Partners partner Luuk Remmen expressed confidence in Addepar’s potential, declaring, “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.”
For more information on investment technology trends, check out Investment Tech News. To learn more about Addepar’s innovative solutions, visit their official website at Addepar.
