Cloud9 lands $30m from banks for trader communications

Trader communication provider Cloud9 has raised $30m in a Series A round led by JP Morgan Chase.

The New York company also saw Barclays, ICAP, Point72 Ventures and individuals from several trading firms invest in the round.

The company’s cloud-based technology provides voice, messaging and collaboration services designed for institutional traders and financial markets.

It aims to eliminate the need for expensive infrastructure and legacy systems and offers end-to-end security and compliance capabilities.

Cloud9 says it will use the capital to develop new products and expand into new markets.

The firm raised an undisclosed seed round from Barclays Private Equity, JP Morgan and ICAP in April.

JP Morgan Chase’s head of private investments Rick Smith said, “We believe that Cloud9 will empower traders through its ease of use and management, while improving efficiency, enhancing compliance and reducing communications costs.”

Copyright © 2016 FINTECH GLOBAL

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