Xignite, Inc., a San Mateo, CA-based financial market data cloud provider, has secured $10m in Series B funding.
Backers include StarVest Partners, L.P. and John L. “Launny” Steffens of Spring Mountain Capital and former vice chairman of Merrill Lynch, as well as existing investors Altos Ventures, Startup Ventures and Peter Caswell.
The company intends to use the funds to expand sales and marketing operations and extend its market data cloud platform.
Led by CEO and founder Stephane Dubois, Xignite is a cloud services provider of on-demand financial market data and on-demand data distribution solutions. Xignite’s market data offers more than 50 financial Web Services providing real-time, historical and reference data for global equities, commodities, currencies, options, fixed income, mutual funds, derivatives and OTC instruments. Xignite solutions power more than 900 clients in 47 countries, including Citi, GE, Wells Fargo, Computershare, ING, BNY Mellon, Natixis, Dow Jones, Forbes.com, SeekingAlpha, ExxonMobil, Starbucks, and Barrick Gold.
In conjunction with the funding, Deborah Farrington, co-founder and general partner, StarVest Partners, L.P. has joined the company’s board of directors.
Xignite has a 24 Hours International Operation Center in Shangai.