OpenFin Accelerates Growth and Expands to Government Sector

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Nov 01, 2022, 08:00 ET

NEW YORK, Nov. 1, 2022 /PRNewswire/ -- OpenFin, the operating system (OS) of enterprise productivity, today announced record growth for the first half of 2022 on the strength of its new Workspace offering. In addition to significant wins within the finance space and a $10M investment from ING Ventures, OpenFin expanded its footprint to the government sector through a strategic partnership and investment from In-Q-Tel (IQT), the not-for-profit strategic investor serving the U.S. intelligence and national security community and its allies. This marks the first expansion of OpenFin OS outside of the finance sector.

Launched in May 2021, OpenFin Workspace (Workspace) is the new visual interface of OpenFin OS which includes components for complex windowing, advanced search, actionable notifications, and application discovery. The multi-tenant environment enables multiple platforms to run concurrently on the same desktop and for each platform to brand and theme the components. This eliminates the need for customers to build these components themselves, reducing development costs, speeding time-to-market and significantly enhancing end-user productivity.

"With Workspace, our customers can now quickly stand up their platforms and unify the app experience in a fraction of the time," said Gavin Lauchlan, Chief Product Officer at OpenFin.

OpenFin's web-based OS has become the de facto standard in financial services for powering next-generation applications and digital experiences for employees and clients. The software is now used at more than 3,800 banks, wealth and asset management firms in 60+ countries.

The introduction of Workspace has significantly accelerated OpenFin's growth in finance and enabled the expansion of OpenFin into the government sector via a strategic partnership with IQT. IQT helps the U.S. and its allies stay at the forefront of innovation through its strategic investments, exploration and research, and acceleration of capabilities.

"OpenFin's platform provides a unique capability for unifying workflows across disparate web and Windows applications, allowing agencies to improve user experience for government workers and enhance their effectiveness," said Brinda Jadeja, Senior Partner at IQT.

"Traditional web browsers are a rudimentary tool for running apps in large enterprises," said Mazy Dar, CEO at OpenFin. "The rapid adoption by financial firms and our expansion into the government sector provide strong validation that OpenFin OS does what browsers and even the native OS can't do when it comes to enterprise productivity."

About OpenFin

Move Fast. Break Nothing. OpenFin is the operating system for enterprise productivity, enabling app distribution, workspace management and workflow automation. Used by 90% of global financial institutions, OpenFin deploys more than 3,500 desktop applications to more than 3,800 buy-side and sell-side firms. OpenFin investors include Bain Capital Ventures, Barclays, CME Ventures, DRW Venture Capital, HSBC, J.P. Morgan, ING Ventures, NYCA Partners, Pivot Investment Partners, Standard Chartered and Wells Fargo Strategic Capital among others. The company is based in New York with an office in London and presence in Hong Kong.

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SOURCE OpenFin