OpenFin, a provider of HTML5 runtime technology for the financial industry, has raised $3 million in a funding round joined by high-profile individuals including Cris Conde and Tom Glocer.
The round was co-led by Bain Capital Ventures, Pivot Investment Partners and Nyca Partners, with participation from 20 executives including former SunGard chief Conde and ex-Thomson Reuters CEO Glocer.
Founded in 2010, OpenFin's patent-pending software is based on Google's Chromium open-source project, enabling banks and trading platforms to run high-performance, multi-window HTML5 applications on sell-side and buy-side desktops.
The new money will be used for product development and engineering team expansion in both New York and London.
Hans Morris, MD, Nyca Partners, says: "Technology advances in the consumer space have been breath-taking but in the institutional world, bank desktops are still dominated by legacy software. Banks clearly want to accelerate the development of financial applications, and OpenFin provides the technology to enable that to happen."
The startup has also made several senior appointments, adding former Icap exec Jen Collet as COO Europe, Liquidnet founding member Steve Greenblatt as VP of North American sales, and Paul Humphrey and Aron Miodwonik as strategic advisors.