NorthStar Systems International, a San Francisco-based provider of wealth management software, has closed an $18 million round of funding from existing and new investors.
NorthStar says the new funding will be used for product development, marketing and sales activities.
Bob Zangrillo, chairman and CEO, NorthStar, says: "This new capital will support our growth and allow us to invest even more into serving our clients at the very highest levels during a period of unprecedented growth in the industry."
As part of the deal NorthStar will add Todd Goergen, managing partner of the Ropart Asset Management Funds, Bill Guttman, investment partner at TL Ventures. Jay Wolf, managing partner at Trinad Capital and Collin Cohen, NorthStar president, to its board of directors.