RiskMetrics has announced the completion of a $21.8 million round of equity financing with participation from American Express, Deutsche Bank eVentures, Intel 64 Fund, JP Morgan, Procter & Gamble, Reuters and Sony.
J P Morgan and Reuters have been strategic investors in RiskMetrics since the company's spin-off from J P Morgan in 1998.
RiskMetrics is to use the funding to invest in rapidly changing new risk technologies and expand its R&D programmes. The company says it will also open new offices and increase headcount.
With offices in New York, London and Tokyo, the company has grown from 26 employees at its inception in 1998 to more than 115 today. More than half the company's revenues come from outside the United States.
RiskMetric products are currently used by more than 5000 institutions around the world including half of the world's central banks. In mid-2000, the company introduced its first product for individual investors, RiskGrades, which currently has 20,000 subscribers.
The company says it will announce partnerships with financial portals and online brokers in the coming months.