Chicago-based derivatives and risk management software house DerivaTech has secured $7 million in funding from venture capital firm Trident Capital.
DerivaTech says the series A round will be used for product expansion, sales and marketing and provide it with an immediate opportunity to increase its share in the derivatives software market.
Nicholas Hatzopoulos, CEO, DerivaTech, comments: "Beyond the continued development of our foreign exchange derivatives solution suite, this financing also provides expansion capital for DerivaTech's growth into additional asset classes."
Trident Capital MD Venetia Kontogouris, says the recent volatility in the financial markets has created increased demand for risk management.
"We believe DerivaTech is well positioned to capitalise on this opportunity," he adds.