A Triangle-based developer of a technology platform used by financial advisors who serve family offices, Eton Solutions, has raised $38 million in a Series C fundraising round.
The company, now based in Morrisville, announced the fundraising in a statement today.
According to the company, the new investment will enable the company to scale rapidly, as well as develop and add additional products for managing the “assets and business affairs of ultra-high-net-worth families.”
“As family offices grow rapidly both in number and operational complexity, the critical need for a purpose-built technology platform to provide greater operational efficiency, transparency and risk reduction has intensified globally,” said Eton Founder and CEO Robert Mallernee, in the statement. “Eton Solutions and its AtlasFive® platform and services uniquely address this need.”
Company to open international HQ
And, the company plans to open an international office, which it will call its international headquarters, in Singapore, the statement noted.
“Singapore has become the nexus of the family office industry in Asia,” said Kevin Hayes, President of Eton Solutions, in the statement. “We are committed to serving this fast-growing market with the best enterprise technology solution and services in our industry.
The investment came from Navis Capital Partners, a new investor, according to the company statement.
“This significant investment by Navis Capital Partners provides additional funding to amplify our platform innovations while supporting the rapid growth we’re currently experiencing in North America and our international expansion,” said Mallernee.
The company’s platform, AtlasFive®, currently operates with more than $425 billion in assets, the company said. And the company has seen more than a 100% compound annual growth rate (CAGR) since its inception in 2012.
“Eton Solutions and the AtlasFive® platform enable some of the world’s largest single and multi-family offices to improve their productivity and services to ultra-high-net-worth families,” said Rajendra Pai, a partner at Navis, in the statement.
In 2018, the company raised nearly $4 million, according to prior reporting published by WRAL TechWire.
Original Article Source: WRAL Techwire