UK market data technology vendor Caplin Systems has raised $2 million in a third round of funding from original investors Financial Technology Ventures and Elderstreet DrKC Ltd.
The extra finance is to support Caplin's continued development of its Wide Area Messaging (WAM) web technology that streams real time data directly to browsers and other applications. It brings the total amount now invested by the two VCs to $16 million.
San Francisco-based FTVentures has topped up its original investment made in February 2002 to maintain its position as Caplin's largest outside investor.
Bob Huret, senior partner at FTVentures, says: "Caplin's revenues have grown nearly six-fold in the last four years, despite the market downturn, and future growth projections are strong."
Elderstreet first invested over $4 million in Caplin in July 2000 to finance its demerger from the Infinet Group.