Addepar, producers of a data-driven financial operating system, has closed a $140 million Series D round red by 8VC, Valor Equity Partners, and QuantRes founder Harald McPike. The funds will be directed toward research and development and product and platform expansion.
Addepar cofounder and 8VC partner Joe Lonsdale explained why 8VC made the investment.
“The company’s extraordinary growth speaks for itself. Addepar is now poised to become the universal operating system to power global finance. It has already connected much of the financial services ecosystem as the leading platform for the highest caliber of asset owners and advisors, capturing and aggregating data from numerous sources and helping to apply it in the most intuitive and impactful ways.”
Valor Equity Partners founder, managing partner and CIO Antonio Gracias joined the Addepar board after co-leading their Series C round in 2014. He has invested in Elon Musk’s companies for decades.
“The idea of a common language and a truly universal data platform for the financial services world is something Wall Street 10 years ago could never have imagined,” said Gracias. “Addepar has not only imagined it, but achieved it, pioneering a fast growing new market that will revolutionize the way data drives finance.”
“Addepar’s open platform will catalyze the next generation of innovation in the financial services industry,” Mr. McPike said. “I believe that open platforms will precipitate a wave of data-driven customer centric services that will be transformative.”