Addepar, a prominent technology and data platform for investment professionals, has successfully closed a $230 million Series G funding round. This round was co-led by London-based Vitruvian Partners and returning investor WestCap from New York, with participation from 8VC, Valor Equity Partners, and new investor EDBI, part of the Singapore Economic Development Board.
The platform is utilized by clients to manage over $7 trillion in assets, a significant increase from $5 trillion the previous year. Addepar adds an average of $25 billion in new assets weekly and serves more than 1,200 firms across over 50 countries. Its clientele includes single-family offices, registered investment advisors (RIAs), large banks, institutional asset owners, and alternative fund managers, making it a leader in wealth and investment management technology.
CEO Eric Poirier emphasized that this funding round reflects the trust investors have in Addepar's mission and the value it provides to clients. He noted that the company aims to equip investment professionals with advanced technology and actionable insights, essential for navigating today’s financial landscape. The funding will reward contributors to Addepar's mission and enhance its commitment to innovation.
Addepar invests over $100 million annually in research and development and is on track for profitability in 2025. The Series G proceeds will primarily facilitate liquidity for employees and investors through a tender offer, allowing them to realize their contributions' value. Additionally, the funds will accelerate innovation and enhance client capabilities, helping firms stand out in a competitive market.
Vitruvian Partners' Luuk Remmen praised Addepar as a category leader in investment technology, highlighting its strong innovation track record and global impact. WestCap's Jaime Hildreth expressed pride in deepening their partnership with Addepar, recognizing the team's vision and commitment to pushing innovation in wealth management.
Founded in response to the 2008 financial crisis, Addepar has focused on empowering investment professionals with superior data and insights, setting a new standard for wealth managers. Co-founder Joe Lonsdale described Addepar as building a global operating system for investment professionals, connecting data, insights, and actions in one platform.
In the current climate of market turbulence and economic uncertainty, Addepar is well-positioned to enhance its platform, helping clients manage risk and deliver value with speed and accuracy. The company remains committed to driving long-term impact across global markets, empowering firms to operate with clarity and confidence.
