Selerity Raises $3 Million in Equity Financing from Industry Elite
- The additional capital will accelerate development of new real-time intelligence platform Selerity Alerts
- Industry veteran Emanuel Mond joins board of directors
NEW YORK – Feb. 13, 2013 – Selerity, a provider of real-time event data solutions for the financial services industry, today announced that it successfully raised $3 million of equity financing to accelerate the development of Selerity Alerts, its new real-time intelligence platform. The Series B capital raise was oversubscribed by more than $1 million due to strong demand from investors, as well as the significant market opportunity that exists for real-time, user-driven intelligence for financial services professionals that Selerity offers.
The Selerity Alerts platform allows securities traders, analysts, portfolio managers and other professionals to receive breaking, real-time intelligence based on their specific investment thesis and interests. Selerity’s platform uses sophisticated real-time search and classification technology to deliver intelligence related to breaking events that impact the financial markets. Using proprietary algorithms, the service sifts through hundreds of thousands of events per day at sub-second speeds from sources including social media, local media, regulatory agencies, and authoritative blogs. The events are then analyzed by Selerity's in-house event analysts, delivering only highly relevant information and analysis to clients. The Selerity Alerts product offering is currently in beta testing with a group of financial services firms.
As part of the capital raise, Emanuel Mond will be joining Selerity’s board of directors. Mond is a seasoned financial information services executive, entrepreneur, and investor. Most recently, he served as the Chairman of Cadis, a global enterprise data management specialist. Prior to this, Mond has held various senior leadership and investor roles at multiple financial technology ventures including, Monis Software (acquired by SunGard), SunGard, and Whittaker Garnier (acquired by Insight).
“I’m excited to be joining Selerity at such an important point in the company’s growth trajectory because I believe in Selerity’s business proposition and the need for their product in the industry,” Mond commented. “I look forward to working with the Selerity team and my fellow board members to expand the company’s footprint in the fast-growing real-time intelligence market and to guide Selerity as it applies the additional capital to further develop its offerings.”
Selerity’s new shareholders are among the financial information industry’s top executives including, in alphabetical order:
A majority of Selerity’s series A shareholders and board of directors also reinvested as part of the round, including industry leaders Donal Smith (Chairman, Selerity), Former CEO of Data Explorers and Co-Founder of Credit Benchmark; Doug Atkin, former President and CEO of Instinet; and Roger Ehrenberg, Wall Street veteran and former CEO of DB Advisors.
“I am honored that such an exceptional group of individuals supports Selerity’s vision to become the leading real-time event data and intelligence firm in the market,” said Ryan Terpstra, Founder and CEO, Selerity. “I know that with this support and our immensely dedicated team, we can continue to deliver market-leading solutions to our clients and the industry. There’s nothing we can’t achieve with such a talented group of people.”
Selerity has now raised a total of $8.1 million including its Series A round, completed in December 2008, and the Series B round. Equity financing has been primarily sourced from accredited investors with extensive experience in financial information and services.