Addepar, a fintech company specializing in investment technology, has successfully closed a $230 million Series G funding round, elevating its valuation to $3.25 billion. This funding round saw participation from notable investors, including Vitruvian Partners, WestCap, 8VC, Valor Equity Partners, and EDBI. The capital raised will enhance employee liquidity and support ongoing innovation within the company’s platform.

CEO Eric Poirier emphasized that this funding reflects the trust in Addepar’s vision and the value it provides to clients. The company aims to be a comprehensive platform for investment professionals navigating complex financial landscapes. The new funds will also facilitate a tender offer, allowing employees and early investors to realize gains from their contributions.

The Series G round is co-led by Vitruvian Partners, a London-based growth investor, and WestCap, a New York investment firm. Both firms recognize Addepar’s significant impact and leadership in the investment technology sector. The company now manages over $7 trillion in client assets, a substantial increase from $5 trillion the previous year, and adds approximately $25 billion in new assets weekly. Its client base includes over 1,200 firms across more than 50 countries, ranging from family offices to large banking institutions.

Addepar invests over $100 million annually in research and development, which is crucial for enhancing its platform. This investment supports features that aggregate portfolio, market, and client data, and the platform integrates with over 100 external partners, ensuring flexibility and scalability for clients.

The recent funding round not only provides liquidity for employees and investors but also aims to improve client services and expand capabilities. Addepar is on track for profitability by 2025, maintaining high client satisfaction and retention rates.

Founded in the wake of the 2008 financial crisis, Addepar has focused on delivering accurate data and reliable insights. Co-founder Joe Lonsdale highlighted the company’s mission to connect data, insight, and action, positioning it as a transformative force in investment management.

Addepar operates with a flexible workforce across multiple global offices, including locations in Silicon Valley, New York City, and London. This international presence supports its expansion while catering to local client needs. The recent investment will further enhance its global growth strategy, with Vitruvian Partners providing strategic guidance to aid this expansion.

Overall, Addepar’s successful funding round and its commitment to innovation position it as a key player in the wealth tech industry, attracting attention from investors and industry watchers alike.