Steven Cohen venture company joins banks with cloud startup investment
Cloud9 Technologies has raised $ 30 million from the group, the investors JP Morgan, Barclays and Icap existing covers, it said on 12 October trading company Hudson Ridge Asset Management, one of the first customers of the start-ups, the financing round connected.
JP Morgan, Barclays and Icap made initial seed investment in the company in April.
The new money will be used to help the supply of investment banks expand Cloud9 and to move into new markets. It has recently an office in Singapore.
run in a manner similar to the popular voice communication app Skype, Cloud9 technology provides a cloud-based desktop service that replaces the telephone systems of dealers traditionally. It is supported by Amazon’s cloud infrastructure, which has been increasing in popularity among large financial institutions.
Jerry Starr, the chief executive and co-founder of Cloud9 Technologies, said: “. The problem with trading systems use very expensive phone, the lines are very confused we said,” let’s take a fresh sheet of paper and find out how to solve the problem. ”
Cloud9 claiming their product is 50% cheaper than the traditional telephone-based systems, safer and provides better audio quality.
Michael Intrator, President and CEO of Hudson Ridge Asset Management, said in a statement: “We have since the beginning of Cloud9 in action We decided to invest in Cloud9 because the technology was and transformational for us reliable..”
launched in 2014, the first start-up waiting energy traders and expanded in the interdealer broker market later. It now has about 2,700 users in more than 29 countries and has recently launched a new feature combines Cloud9 user to trading counterparties not with the system.
The move comes as capital market firms warm to the idea to move their applications to public cloud providers such as Amazon Web Services. Goldman Sachs is an investor and a customer of Bracket Computing, a startup that provides an additional layer of security to public clouds.
Richard Kerschner said Chief Corporate Development Officer of ICAP post-trade, risk and information services department, in a statement: “The rapid growth of Cloud9 since the start of the company in 2014, the introduction of cloud technology in the industry has parallel and we saw the opportunity to extend the benefits of the platform in areas such as workflow, compliance and advanced analytics. “
Our Source: http://www.efinancialnews.com/story/2016-10-12/steven-cohen-venture-firm-joins-banks-in-cloud-startup-investment-cloud9?mod=rss-fintech
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