Wealth Management Tech Platform Addepar Raises $117 Million Through Series E Investment Round Led By WestCap Group

Addepar, a U.S.-based wealth management platform, announced on Wednesday it secured $117 million through its Series E funding round, which was led by WestCap Group with participation from 8VC.

Founded in 2009, Addepar describes itself as a wealth management platform that specializes in data aggregation, analytics, and reporting for even the most complex investment portfolios. The platform provides asset owners and advisors a clearer financial picture at every level, allowing them to make more informed and timely investment decisions.

“Addepar works with hundreds of leading financial advisors, family offices and large financial institutions that manage data for more than $2 trillion of assets on the company’s platform.”

Addepar was previously named as a Forbes Fintech 50 for the fifth consecutive year and a 2018 Morgan Stanley Fintech Award recipient. Addepar further revealed that it now has more than $2 trillion in client assets on the platform. Addepar has sustained its pace of adding an average of $10 billion per week. Commenting on the company’s growth,  Addepar CEO, Eric Poirier, stated:

The growth we’ve experienced this year is a direct result of putting our clients at the center of our priorities. We’re continuously pursuing novel ways to expand the value we bring to each of these relationships.

Addepar went on to add that the funding will be used to support the expansion of its data aggregation, analysis, and reporting platform.

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