Correlix Ltd., a New York, and London, UK-based provider of a service for monitoring, measuring and reporting order and market data flows in real-time, has secured additional funding.
The amount was not disclosed.
Backers include existing investors Sequoia Capital, Blumberg Capital, and Vernon & Park and Xenia Ventures.
The company intends to use the funding to further improve its Latency Intelligence solutions and to expand globally.
Founded by CEO Shawn Melamed, Correlix offers RaceTeam™, a latency management service providing real-time latency visibility for buy-side, sell-side and liquidity venues to monitor, measure and minimize latency in trade execution and market data flows in real-time.
Clients include high frequency trading sell-side, buy-side and market centers as well as low-latency service providers. RaceTeam members include CHX, EDGA, EDGX, NASDAQ, NASDAQ BX, NASDAQ PSX, NASDAQ PHLX, NYSE, ARCA, ARCA Options, AMEX, CBOE, C2, BATS BZX Exchange, BATS BYX Exchange and BATS Options.
The company also hired Richard Wilkins as Vice President of Sales. In this role, he will be responsible for the oversight and implementation of the global sales efforts as well as the facilitation of strategic partnerships.