Data and analytics solution Siepe has closed its Series A round to help it bolster its cloud-based software-as-a-service offering.
The capital injection will also help the company to improve its IT infrastructure service offerings, increase the size of its executive team and boost its sales and marketing efforts.
Siepe claims the investment has come after an increased demand for cloud-based technology, as a result of the coronavirus pandemic and the remote working ecosystem.
The FinTech offers a financial data and IT solution platform to improve decision making and workflow management. Its cloud-based solutions enable asset managers to unlock insights buried in their data by linking desperate information sources, improving due diligence and lower risk.
Portfolio management tools available include portfolio analysis, performance attribution, risk management and data warehousing.
Alongside the funding round, Siepe has name former Abacus Group director Darrell Tucker as its new managing director of business development.
Siepe CEO and founder Michael Pusateri said, “The capital funding is critical as Siepe focuses on helping investment firms alleviate technology concerns, while working remotely due to the COVID-19 outbreak.
“Siepe is dedicated to delivering nimble and secure software and IT infrastructure solutions to its clients, regardless of location or circumstances. Darrell’s extensive IT background and project management skills will play a key role in helping address the buy-side’s growing need for resilient workflows and operational efficiencies.”
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