Thu, 10/01/2013 - 14:18
SR Labs, a provider of electronic-trading solutions for the global financial services industry, has completed a USD53m investment from Insight Venture Partners.
SR Labs plans to use the capital to expand its sales and marketing operations, to accelerate its growth outside of North America, and to continue to fund product innovation.
To further those goals, SR Labs has opened a new development centre in Pune, India, to support its customers in Asia Pacific and Europe, where systematic trading is growing rapidly.
Srinivasan Ramiah, founder and chief executive of SR Labs, says: "We are excited to have Insight as a partner. As electronic trading is expanding beyond North America, we intend to expand our operations globally. We will be leveraging Insight's expertise in international markets to set up operations to better serve our customers in Europe, Asia and Latin America."
Founded in 2007, SR Labs has grown rapidly, with 100 per cent year-on-year profitable growth since inception. SR Labs provides technology that enables the data-gathering and execution of electronic trading. Its low-latency market data feed handlers and high-speed exchange gateways work across multiple asset classes. SR Labs' clients include top investment banks, hedge funds, proprietary trading firms and providers of trading technology software.
"We are excited about the high calibre of SR Labs' products and the company's dedication to serving its customers. Our investment will enable SR Labs to continue to deliver best-in-class technology and support," says Deven Parekh, managing director at Insight Venture Partners. "We are especially encouraged that leading financial institutions increasingly are using cost-effective third-party technology, such as SR Labs, in their trading operations. We believe this will continue to be a strong source of growth in this market."
As part of the transaction, Parekh and Martin Angert, principal at Insight Venture Partners, will join the board of directors.
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