Selerity, a real-time event data provider based in Jersey City, New Jersey, said it raised $3 million in a second round of equity financing from investors who are among the financial information industry’s top executives including Tom Glocer, former CEO of Thomson Reuters and Lee Olesky, CEO of Tradeweb.
The other investors include Mark Faulkner, founder of Data Explorers and co-founder, Credit Benchmark, Emanuel Mond, former chairman, Cadis and Sharon Rowlands, CEO, Altegrity.
As part of the capital raise, Mond will join Selerity’s board of directors. Mond is a seasoned financial information services executive, entrepreneusr and investor, according to the release. Prior to serving as chairman of Cadis, a global enterprise data management specialist, Mond held senior and investor roles at multiple financial technology ventures including Monis Software (acquired by SunGard), SunGard and Whittaker Garnier.
“I look forward to working with the Selerity team and my fellow board members to expand the company’s footprint in the fast-growing real-time intelligence market and to guide Selerity as it applies the additional capital to further develop its offerings,” commented Mond in the release.
Selerity said it plans to use the series B funds to accelerate development of Selerity Alerts, a real-time intelligence platform. The Selerity Alerts platform allows securities traders, analysts, portfolio managers and other professionals to receive breaking, real-time intelligence based on their specific investment thesis and interests. The platform utilizes algorithms that sift through hundreds of thousands of events per day at sub-second speeds from sources including social media, local media regulatory agencies, and authoritative blogs. Events are then analyzed to deliver the most relevant information to clients.
A majority of Selerity’s series A shareholders and board of directors also reinvested as part of the second round including Donal Smith (chairman of Selerity), Doug Atkin, former president and CEO of Instinet and Roger Ehrenberg, Wall Street veteran and former CEO of DB Advisors.