Press Releases
Edison Venture Completes Follow-on Investment In TraderTools
Edison Venture Fund announced completion of $1.3 million follow-on investment in NY-based TraderTools. The total financing of $2.3 million was led by Edison and included existing investors. The use of proceeds will expand sales, marketing, customer support services and product development. Edison has invested more than $8 million in the Company. In addition, Co-Founder Yaacov Heidingsfeld has been named CEO. In connection with this financing, John Geraci, former Advent Software sales executive and Edison Director Network member joined the board.
TraderTools provides business solutions, software and services to financial institutions trading foreign currency. The Company's Liquidity Management PlatformTM is the only system to integrate the four disciplines of electronic FX trading: pricing, dealing, order management and execution. The company is headquartered in New York, with R&D facilities in Raanana, Israel. Customers include Man Group, Julius Baer, BHF-BANK, Dresdner Bank, Prudential Financial, TD Securities and Thomson Financial.
"Edison's strategic counsel and experience accelerating growth of their portfolio companies has been instrumental to our success in 2009," commented TraderTools' Chairman of the Board, Martin S. Fawer. "With Edison's continued guidance, we look forward to significantly increasing our revenues in 2010," stated CEO Yaacov Heidingsfeld. Chris Sugden, Managing Partner, serves on the Board of Directors along with Edison Director Network member, Mark Galant. Mark is Founder and Chairman of Edison success, Gain Capital (Forex.com), a global leader in retail FX trading. Tom Vander Schaaff, VP Analysis, conducted Edison's due diligence.
"Yaacov's deep domain expertise and sales leadership will help the Company to scale to the next level," stated Chris Sugden. "Customers continue to praise Trader Tools' innovative solutions and exceptional service," added Tom Vander Schaaff.
Edison has invested in 32 Fintech businesses. Active portfolio companies include Archive Systems, Billtrust, Blue Cod, FolioDynamix, IPP, Liberty Tax, Neat, Portico, Scivantage, Tangoe and Telarix. FinTech exits include Best Software, DPM, EdgeTrade, E-Transport, Longview Solutions and Princeton Financial Systems.
Edison has made 16 investments in New York including: CorrectNet, eChalk, EdgeTrade, FinePoint, FolioDynamix, M5 Networks, Operative, Pinnacle Tax and SmartAnalyst.
About Edison Venture Fund
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to late stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 8 million. Edison typically serves as the sole or lead investor in financings up to $10 million. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison's investment professionals are based in Lawrenceville, NJ, New York, NY, Needham, MA and McLean, VA. Industry specialties include application software, communications, financial technology, interactive marketing, and healthcare IT. Edison's successes include Axent, MathSoft, POMS, Mapics, Netegrity, Visual Networks, VirtualEdge, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison currently has $550 million under management and is actively making new investments.
About TraderTools
TraderTools™ LLC is a provider of business solutions, software and services to financial institutions trading FX. TraderTools' Liquidity Management Platform™ is the only system to integrate the four disciplines of electronic FX trading: pricing, dealing, order management and execution. Our unique Dynamic Liquidity Manager™ monitors and controls inward and outward liquidity flows, making pricing and execution decisions in real time. We empower banks to maintain their leadership positions in FX with a single deployment and a single point of contact. And we work together with them to activate functionality according to their business strategy and timetable. Learn why the world's financial services giants are using TraderTools to better manage their liquidity and optimize their FX trading operations, by visiting www.tradertools.com or emailing us at sales@tradertools.com.
