Bipsync, a research platform provider for investment management firms, with bases in Cardiff and New York, has announced a $7 million (approx. £5.34m) growth investment led by leading fintech investment firm Edison Partners, with FINTOP Capital also participating in the round.
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Proceeds will be used to expand the company’s global footprint and accelerate product innovation, customer success initiatives, and sales and marketing operations for
Bipsync’s category-defining approach to knowledge management for the investment front office.
Growing out of Silicon Valley in 2013, Bipsync chose Cardiff to be the home of its product development as its then co-founder Dan Zambonini and technical director Paul Preece are both Welsh, intimately familiar with the tech scene in south Wales, and confident in the local pool of talent that could shape and implement their product vision.
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The Cardiff team, now housed in Stadium Plaza in the Central Cardiff Enterprise Zone, has grown to ten people in technical disciplines including software engineers, system administrators and QA engineers, in addition to staff in operations and project management. The New York headquarters is located two blocks away from Central Park.
The investment builds on an exceptional growth period at Bipsync, which has seen 3X year-on-year growth in bookings, over 100% net revenue retention, and expansion into new client markets of Limited Partners and allocators. Bipsync’s global client roster now spans the entire investment management industry in asset class and strategy,from fund managers across multi-strategy, long-short equity, private equity and VC, to asset owners, pensions, sovereign wealth fundsand top-tier university endowments.
“Bipsync has won the trust of the world’s largest and most well-established funds by offering a solution that solves the unique research challenges facing asset managers today,” said Jennifer Lee, Vice President at Edison Partners, who led the investment. “The team has turned its domain knowledge in investment management and enterprise software development into a category-defining platform with impressive market uptake. We’re excited to partner with Bipsync on their next phase of growth and innovation.”
In Cardiff, Bipsync is establishing strong roots with the local community, including a graduate scheme in partnership with Cardiff University, which has led to a number of full-time and placement opportunities for graduates and students. Tenovus Cancer Care also became the company’s first official charity in the UK, with a pledge to raise £4,500 over the next two years.
Bipsync’s work ethic includes family-friendly policies and initiatives that support mental and physical health, allowing employees to determine their own schedule and work environment, and an unlimited leave policy that encourages everyone to take as much holiday time as they need.
Bipsync is a modern SaaS research platform that powers the end-to-end investment research process for asset managers. It tightly integrates a configurable productivity environment, a flexible and compliant data store for knowledge assets, and powerful process management tools to accelerate decision-making and drive differentiation right across the investment front office. The confluence of rising regulatory requirements, competition for assets and technology modernization is driving funds to reassess their research and knowledge operations for competitive advantage—which has created unprecedented demand for Bipsync’s best-of-breed platform.
“This growth investment will enable us to capitalize on the tremendous market opportunity in front of us,” said Danny Donado, founder and CEO of Bipsync. “Edison Partners and FINTOP immediately aligned with our vision. Beyond the growth capital, they bring a wealth of experience and deep industry knowledge and operating expertise to our business. We’re thrilled to have the leaders in our field on board as we take the next step in our journey.”
