Open source analytics start-up OpenGamma raises $6m

Open source analytics start-up OpenGamma raises $6m

OpenGamma, a UK-based financial analytics start-up, has raised $6 million in a series b funding round led by FirstMark Capital.

OpenGamma was founded by Kirk Wylie - a former head of software architecture at the front office technology unit of KBC Financial Products - and Smartspread alumni Elaine McLeod and Jim Moores, with series a funding from Accel Partners, which also participated in the latest round.

The OpenGamma Platform is designed to allow financial services firms to unify their calculation of analytics "across the traditional trading and risk management boundaries", says the vendor.

Wylie has blogged that the platform will be available under a "commercially-friendly" Open Source license "because that's what customers have told us they want"

According to TechCrunch, the new money will be used to develop the platform, open a New York office and embark on a sales and marketing push.

You can watch a Finextra interview with Wylie from July here.

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