Caplin Attracts Second Round of Funding from FTVentures and Elderstreet
Caplin is recognised as market leader in online streaming market data
Funding is to support Caplin’s aggressive growth, measured at 300% over last three years
Total amount invested is 6.2m, in this second round
LONDON – Caplin Systems Ltd, the leading provider of real-time web technology, today announced that Financial Technology Ventures (FTVentures), the San Francisco-based venture capital company specialising in technology benefiting the financial services industry, has invested 5.5m in the company, in a combination of new shares and existing shares, becoming Caplin’s largest outside investor. Concurrently, Elderstreet DrKC Ltd, now part of Dresdner Kleinwort Capital, has completed a 700,000 second funding in Caplin after their first investment in 2000.
James Hale, managing member, FTVentures, says: “We believe that Caplin is well positioned to revolutionise the technology and economics of market data collection and distribution. Caplin’s RTTP protocol is a breakthrough technology that will change the way market data is delivered. The high calibre client-base including Nasdaq, NYSE, UBS Warburg and CME, combined with the healthy pipeline of blue-chip prospects point to a path of continued growth for Caplin.”
Caplin’s RTTP technology is today’s most widely used web standard for streaming market data. RTTP delivers financial market data directly into a client’s browser, allowing real-time data to flow through unmodified firewalls, with no application download or software installation. A single RTTP Global Server supports 30,000 users and 800,000 updates/second.
FTVentures, has over $600 million under management and is backed by the world’s leading financial institutions, many of which are innovators in deployment of technology. Leveraging its experience with companies that combine superior technology and a sound business approach, FTVentures brings a valuable perspective to Caplin. Bob Huret and James Hale, managing members of FTVentures, will join Caplin’s board of directors.
Barnaby Terry, partner, Elderstreet, comments: “Since Elderstreet first invested in Caplin 18 months ago, I have seen the company make great strides towards establishing itself at the heart of real-time delivery of market data over the internet. I was delighted to invest then and I am delighted to provide further capital now.”
Paul Caplin, CEO Caplin, says: “Given the current financial climate, we were flattered to receive an enthusiastic response from so many would-be investors, validating the tremendous amount of progress the company has made. When it came to the decision point, however, we had no hesitation in going with FTVentures. Their professionalism, industry connections, and deep understanding of what we are trying to do was unmatched elsewhere.”
Founded in 1998, FTVentures was the first venture capital firm in the U.S. to primarily invest in technologies that benefit the financial services industry. FTVentures now has more than $623 million in total capital under management and remains the primary investment firm for technology companies that develop products and services applicable to financial services. It invests primarily in mid-to-late stage private companies with developed technologies in three key areas: software and infrastructure solutions providers, electronic commerce enablers and payment sector technologies.
FTVentures-backed companies include 7-24 Solutions, Financial Engines, Corillian, Managed Objects, Caplin Systems, Xign, e-Security, PAYTRUST, CapitalStream, E-LOAN, Synchrologic, ValuBond Securities, ValiCert, CrossLogix, and ClearCommerce. FTVentures investors are 39 of the world’s leading financial institutions and include AIG, Bank of America Corporation, BNP Paribas, Charles Schwab, Credit Suisse Group, Deutsche Bank, Development Bank of Singapore (DBS), GE Capital, HSBC Holdings, Key Principal Partners, National City Corporation, Skandinaviska Enskilda Banken (SEB), Standard Chartered Bank, US Bancorp and Wells Fargo.
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