Markets Closes $10 Million in Second Financing Round
April 25, 2001
Intelligent Markets Closes $10 Million in Second
April 25 -- Intelligent Markets, Inc., the leading provider of comprehensive
trading technology for global financial institutions, today announced
that it has closed $10 million in second round preferred financing.
The Series B round is led by Woodside Fund and is joined by Oak
Hill Venture Partners, the lead investor in Intelligent Markets'
Series A round, and Pacific Venture Group.
Markets develops trading platforms for the institutional securities
businesses of dealers, dealer consortia, and exchanges serving the
financial markets. With the movement toward electronic trading in
institutional markets, securities dealers face the challenge of
providing sophisticated trading capabilities to their clients without
losing the first-hand client and market knowledge which is currently
exchanged over the phone. Intelligent Markets builds systems that
utilize computer learning to allow dealers to move their sales and
trading operations into the electronic age while actually enhancing
personalized client service.
are extremely pleased to have brought on board such high-quality
investors in our second round,'' said Carl Huttenlocher, Co-Founder
and CEO of Intelligent Markets. ``Their support will be invaluable
as we execute our strategy as an enterprise software provider for
the capital markets, as well as for non-financial markets in the
Markets is unequalled in its unique combination of Wall Street experience
and software development expertise to create robust and scalable
systems which address the volume and complexity of institutional
trading,'' commented Daniel Ahn, Principal at Woodside Fund.
Intelligent Markets, Inc.
Markets is the leading provider of comprehensive trading solutions
for securities dealers, dealer-consortia, and exchanges serving
the institutional financial markets. Intelligent Markets currently
delivers its technology through a software license or full ASP hosting.
Key features of Intelligent Markets' technology include automated
contingent order execution, computer learning technology which alerts
professionals to transaction opportunities, and a robust and scalable
architecture built for institutional markets. Founded in 1999, Intelligent
Markets developed the BuySideDirect Convertible Securities Trading
System, the first electronic platform for the trading of convertible
securities and their underlying stock.
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