Addepar

Addepar
Private
Founded 2009
Founder Joe Lonsdale, Jason Mirra
Headquarters Mountain View, California
Number of employees
 210
Website addepar.com

Addepar, Inc. is an investment management technology company which offers an integrated software platform for single and multi-family offices, wealth advisors, large financial institutions, endowments and foundations, funds and fund administrators. The company states its objective is to bring a new level of integrity, transparency and impact to investment management.

Addepar has offices in Mountain View, New York City and Chicago. As of May 2015, Addepar had over 100 clients representing more than $300 billion assets under management. [1] Addepar was founded in 2009 by Joe Lonsdale and Jason Mirra. [2]

Products

The company announced a major release in April 2015.[3] Updates to the platform include making the software available as a fully browser-based application and the introduction of a new tool called “Section Templates,” which allows clients to create a library of template building blocks for scalable, customized reporting.

Reception

Since its launch, Addepar’s software platform has gained traction in the wealth advisory marketplace,[4] with partners and potential clients [5] expressing both praise for its capabilities and reservations about the platform’s ambitious product roadmap.

Addepar has been compared against industry peers Advent Software, as well as its Black Diamond subsidiary. Firms including Legacy Venture and Three Bell Capital have praised Addepar’s data aggregation and rapid calculations.[6] Other known users include Iconiq Capital, a large independent multi-family office that reportedly manages assets for former Zynga CEO Mark Pincus, as well as Facebook CEO Mark Zuckerberg and COO Sheryl Sandberg.[7]

Industry analysts and competitors have also expressed doubts about Addepar’s goal of creating one complete, integrated solution. Dave Welling, general manager of Black Diamond, has criticized Addepar’s approach, arguing that advisors want to make their own combinations of software, and need custom-tailored rather than one-size-fits-all solutions.[6]

Addepar was named one of the “Top 10 Most Innovative Companies in Personal Finance” in 2015 by Fast Company magazine.[8]

Finances

Recent reports have indicated Addepar’s revenue at more than $12mil with more than $300bil in assets on their platform.[6] According to public filings made available by the SEC, Addepar has raised more than $50mil from investors,[9] including Peter Thiel and Founders Fund,[7] and its shares were recently featured as one of the top five new companies in SecondMarket’s Q3 report.[10]

References

  1. ↑ "About Addepar". Addepar. Retrieved 1 June 2015.
  2. ↑ "Addepar means to be the only technology platform RIAs will ever need". RIABiz. Retrieved 2013-03-20.
  3. ↑ "Addepar's New Release Brings Investment Management Into the 21st Century". PR Newswire. Retrieved 1 June 2015.
  4. ↑ "Swatting aside 'doubters,' Joe Piazza uses an improbable hook to nab Wells Fargo private bankers -- pent-up Addepar lust". RIABiz. Retrieved 2014-06-12.
  5. ↑ "AITVAddepar". Accelerate-IT Ventures. Retrieved 2014-06-12.
  6. 1 2 3 "Addepar hits $50 billion of assets and turns its eyes to Advent-Black Diamond's plump RIA market". RIABiz. Retrieved 2013-03-20.
  7. 1 2 "How the Facebook IPO is creating the mother of all RIAs, Iconiq, and what an in-your-face it is for Wall Street". RIABiz. Retrieved 2013-03-20.
  8. ↑ "Addepar Named One of Fast Company's Most Innovative Companies". PR Newswire. Retrieved 1 June 2015.
  9. ↑ "Addepar Raises $50 Million for Wealth-Management Dashboard". Wall Street Journal. Retrieved 1 June 2015.
  10. ↑ "Consumer Electronics Make Up 75% Of SecondMarket's Third Quarter Transactions, Social Media Down To 1.2%". TechCrunch. Retrieved 2013-03-20.

External links

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