California-based market data technology vendor VhaYu Technologies has secured $10.25 million in a series c round of funding from new investor Silicon Valley Bank and existing investor Menlo Ventures.
The vendor says the funding will be used to drive sales of its Vhayu Velocity market data analysis platform to brokers, hedge funds and asset managers.
Jeff Hudson, CEO at Vhayu, says: "We need to increase our investments in Europe and Asia to support the demand we are seeing. Additionally, we are increasing our investment in new product development, again driven by customer demand."
VhaYu said last week that it had received a key patent for its financial search engine technology which retrieves financial updates in real-time. The technology was developed by company co-founders Tejpal Chadha and Kenneth Williams.