Cloud9 Technologies Secures $30M in Funding10.13.2016 By John D'Antona Editor, Traders Magazine
Cloud9 – NEW YORK, NY – Cloud9 Technologies LLC, a cloud-based communication provider for financial firms and institutional traders offering advanced capabilities to leverage compliance, voice analytics and workflow solutions, announced today the close of a $30M funding round. This round was led by JPMorgan Chase & Co., with ICAP, Barclays and Point 72 Ventures. The round also includes individual participation by the principals of several leading trading firms, such as Hudson Ridge Asset Management, who were among Cloud9’s early customers.
“We are thrilled to welcome Point 72 Ventures and our other investors as we continue to build a technology that acts as a catalyst in terms of changing the communication and process around trading,” said Gerald Starr, CEO of Cloud9 Technologies. “Cloud9 has ushered trader communication into the modern age, while bringing mobility, enhanced compliance and security, and more agile communication to the industry. With the close of this round, our team is poised to continue development of products and services that will change the way the financial industry and enterprise businesses communicate and collaborate.”
“The rapid growth of Cloud9 since the company’s launch in 2014 has paralleled the industry’s adoption of cloud technology and we’ve seen the opportunity to extend the platform’s benefits into areas such as workflow, compliance and advanced analytics,” said Richard Kerschner, Chief Corporate Development Officer of ICAP’s Post Trade, Risk and Information Services Division. “Cloud9 is best positioned to provide next generation solutions that will create improved efficiency and additional benefits for traders, brokers, and other financial market players.” ICAP’s participation was led by Euclid Opportunities, ICAP’s investment arm focused on emerging fintech companies.
“We believe Cloud9 is an emerging leader in transforming the way the buy-side and sell-side communicate across the capital markets,” said Pete Casella, Partner at Point72 Ventures. “We are excited to partner with Jerry and his team to help attract more of our peers and trading counterparts into the Cloud9 ecosystem.”
Cloud9 Technologies is a cloud communications service provider that delivers high performance voice and collaboration services designed for the unique functional and compliance needs of institutional traders. The company delivers its services from the cloud using software applications that leverage the Internet and advanced WebRTC technologies.
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