Addepar Announces $150M Investment by D1 Capital Partners, Exceeding $2B Valuation

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MOUNTAIN VIEW, Calif., June 15, 2021 /PRNewswire/ -- Addepar, a leading technology platform for wealth management, today announced it has raised $150 million from D1 Capital Partners at a pre-money valuation of $2 billion as part of its Series F financing. The funding will be used to further accelerate the company's rapid growth, fueling expansion of the business and workforce into new geographies and driving continued development of Addepar's category defining platform.

Addepar was founded by Joe Lonsdale in 2009 in the wake of the financial crisis to meaningfully improve how finance works and enable more efficient capital allocation. The company has paired an elite technology culture and platform-based approach with a client-centric mindset, positioning it to become a critical and impactful part of the global financial infrastructure.

Addepar has amassed more than $2.7 trillion in client assets on its platform, and serves over 600 family offices, registered investment advisors, private banks and large financial institutions across more than 25 countries. Its platform is used to process millions of accounts each day, empowering thousands of advisors to deliver timely advice and results, and to manage risk for their clients across all asset classes in any market environment. For nearly the last year, Addepar has added an average of more than $15 billion in assets a week to its platform, and had its strongest year on record across all key metrics including client and revenue growth, user engagement and client retention.

"Today's announcement underscores the trajectory and strength of Addepar's business. Our coveted client base spans multinational banks, family offices, RIAs and other financial advisors. They all use our open software platform to deliver lasting and differentiated value for their clients. We're able to unlock this value by enabling a more complete and meaningful financial picture at every level. This empowers financial professionals to advise each client on making the most informed and data-driven decisions that align with their unique goals, objectives and preferences," said Addepar CEO Eric Poirier.

"At D1 we seek to back visionary companies that solve large, pressing problems," said Prateek Bhide, Principal at D1 Capital Partners. "Addepar has built a world-class wealth management platform and has demonstrated an ability to service some of the industry's most demanding clients. Addepar has a unique opportunity to rapidly expand the platform to address the $225 trillion in investable assets around the world. We look forward to partnering with them on this journey."

Today, the company is focused on evolving financial advice and investment management with the broader purpose of maximizing the impact of the world's capital. Given the growing pressure on financial advisors to provide access to a broad range of liquid, illiquid and alternative asset classes for their clients, Addepar introduced Marketplace in 2020. This digital experience streamlines and unifies access to shares in private companies, and includes opportunities to invest in private equity, venture capital, hedge funds and real estate among other investment categories that have historically been fragmented and opaque.

Last fall, the company launched the Investor Sentiment Index which uses aggregated and anonymized data across more than 10,000 portfolios, each of which have at least $10 million, in order to surface timely insights that had previously been unattainable. In January, Addepar acquired RCI, and in doing so, launched Navigator which helps clients codify cash flow, liquidity and tax projections, and refine pacing models among other ex-ante capabilities. Marketplace and Navigator complement Addepar's flagship data aggregation, management and analysis capabilities, and are available as additional offerings to Addepar's software clients.

The company has also designed its platform with advisors' end clients in mind, offering a white-labeled mobile app and web-based portal so that investors can quickly assess what's in their portfolio, how it's allocated, and how their performance has changed over time. Looking ahead, the company will continue its aggressive pace of innovation, delivering on an ambitious roadmap with its clients at the center.

"Eric continues to build an amazing team around him, and their hard work is showing with exciting momentum towards achieving our vision," said Joe Lonsdale, Addepar Founder and Chairman of the Board. "This is a rare company where the second decade is much more exciting than the first - Addepar will continue to grow at a high rate for a long time, and will be a much more impactful platform than people yet realize, as a key part of the global financial infrastructure."

To learn more about Addepar, please visit https://addepar.com/

About Addepar
Addepar is a wealth management platform that specializes in data aggregation, analytics and reporting for even the most complex investment portfolios. Founded in 2009 by Joe Lonsdale, who currently serves as an active Chairman of its Board of Directors and General Partner at 8VC, the company's platform aggregates portfolio, market and client data all in one place. It provides asset owners and advisors a clearer financial picture at every level, allowing them to manage investments and make more informed decisions. Addepar works with hundreds of leading financial advisors, family offices and large financial institutions that manage data for over $2.7 trillion of assets on the company's platform. In 2020, Addepar was named as a Forbes Fintech 50 company and honored as a member of the CB Insights Fintech 250. Addepar is headquartered in Silicon Valley and has offices in New York City, Salt Lake City and Edinburgh. All brokerage services are offered through Acervus Securities Inc., member FINRA / SIPC.

About D1 Capital Partners
D1 Capital Partners is a global investment firm that operates across public and private markets. The firm combines the talent and operational excellence of a large, premier asset management firm with the flexible mandate and long-term time horizon of a family office. Founded in 2018 by Daniel Sundheim, D1 focuses on investing in the global internet, technology, telecom, media, consumer, healthcare, financial, industrial, and real estate sectors.

SOURCE Addepar

Related Links

https://addepar.com/