Cloud9 Closes $30M Funding Round with J.P. Morgan, ICAP, Barclays, and Point 72 Ventures
We’re proud to announce the closing of our $30M Series A funding round including J.P. Morgan, ICAP, and Barclays, as well as 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 our CEO, Jerry Starr.
“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.”
Point 72 Ventures’ participation comes as part of their strategy to invest in firms that will both give them an edge and generate returns.
“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 has developed a popularity among traders and other financial services professionals who cite the platform’s ease-of-use, mobility features, strong value proposition, and interoperability features as giving them an advantage, allowing them to quickly connect with counterparties and conduct more efficient business.
“We have been using Cloud9 since the beginning,” said Michael Intrator, President and CEO of Hudson Ridge Asset Management, LLC. “We chose to personally invest in Cloud9 because the technology has been reliable and transformative for us. We believe that the company has a future that extends beyond creating an integrated lifecycle around trading communications and beyond the finance industry.”
“Cloud9’s technology inspired us to revisit our trader voice communication strategy and related workflow,” said Sanoke Viswanathan, Chief Administrative Officer of J.P. Morgan’s Corporate and Investment Bank. “We believe that Cloud9 will empower our traders through its ease of use and management, while improving efficiency, enhancing compliance and reducing communications costs.”
We will use the funding to support our ongoing innovation – accelerating the development of several products in great demand by our current customer base as well as expand the service into new markets beyond the trading floor. Following the recent opening of our Singapore office, we also plan to expand operations into other global markets by early next year.
ICAP’s participation was led by Euclid Opportunities, ICAP’s investment arm focused on emerging fintech companies.
“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.”
The closing of this investment demonstrates the confidence in our modern, cloud-based technology that is transforming the communication experience for traders, IT Managers and their teams.
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