OpenGamma, Inc., a London, UK-based company that is developing an open source financial analytics and risk management platform for traders in global markets, has raised $6.0m in equity funding.
According to a regulatory filing with the S.E.C., investors include FirstMark Capital and Accel Partners.
The company intends to use the new funds to strengthen the sales, marketing and commercial operations teams, establish strategic alliances, continue to build a dynamic open-source community and expand research and development initiatives in anticipation of the general availability of its platform in early 2011.
As part of these efforts, OpenGamma is also opening an office in New York City, where the world’s leading financial institutions are headquartered.
In conjunction with the funding, Lawrence D. Lenihan, Founder and Managing Director at FirstMark Capital has joined the company’s board of directors.
Founded in 2009 by Kirk Wylie, CEO and CTO, Jim Moores, PhD, Head of Platform Development, and Elaine McLeod, PhD, Head of Quantitative Development, the company is developing the OpenGamma Platform, which is designed to allow financial services firms to develop the analytic applications their traders and risk managers need.
The platform can be used as a comprehensive risk management and analytics solution for ad-hoc and pre-trade analysis, live risk and analytics, and batch and overnight risk reporting. It can also be personalized into any type of custom analytics application required in a modern trading firm.
update (in Italics) 18/01/2011