OpenGamma, a London, UK-based open source financial software and provider of derivatives risk analytics, raised $13.3m in funding.
The round was led by Accel and ICAP’s Euclid Opportunities with participation from Cristóbal Conde.
The company intends to use the funds to expand adoption across financial institutions.
Founded by Kirk Wylie, who recently left the company to pursue other business interests and led by newly-appointed CEO Peter Rippon, OpenGamma is a provider of risk analytics for the derivatives markets.
In 2016, the company released a derivatives analytics library for the financial industry, which forms the foundations of its risk products and custom client solutions. In April 2016, it launched ‘risk-as-a-service”, a suite of cloud-based analytics that addresses a broad range of risks facing the derivatives industry against the backdrop of increasing global regulation and allows its bank, asset management, hedge fund and clearing house clients to maintain control of development while managing costs.