Addepar
This article contains promotional content. (January 2023) |
| Addepar logo is two parallelograms then ADDEPAR in solid black capital letters | |
| Company type | Private |
|---|---|
| Industry | Financial technology |
| Founded | September 2009 |
| Founders |
|
| Headquarters | , United States |
Number of locations | 7 (2024) |
Area served | Worldwide |
Key people | Joe Lonsdale (Chairman) Eric Poirier (CEO)[1] |
| Products | Addepar Platform Open API |
| Services |
|
Number of employees | 1000[2] (2023) |
| Website | addepar |
Addepar, Inc. is a cloud based American wealth management software platform for RIAs (registered investment advisors) specializing in data aggregation, analytics, and portfolio reporting.[3] Addepar's clientele is primarily high-net-worth and ultra-high-net-worth individuals and companies.[4][5]
History
[edit | edit source]Origin
[edit | edit source]In 2003, Peter Thiel founded Palantir Technologies along with four other founders, including Joe Lonsdale. In 2009, Lonsdale launched Addepar with Jason Mirra, another Palantir employee.[6][7] One of their earliest clients was Mark Zuckerberg.[8] The company name is based on a line in Ovid’s Metamorphoses meaning “Add a little to a little and you’ll have a great amount.”[9]
Management transition
[edit | edit source]In 2013, Addepar sought to transition out of start-up mode, replacing Lonsdale and Michael Paulus with new CEO Eric Poirier previously of Palantir and hiring a COO to start building out the company's management.[10]
Funding and expansion
[edit | edit source]In 2017, Addepar received a $140 million round of funding from Valor Equity Partners.[11] The same year, Addepar partnered with Morgan Stanley, providing software that consolidated information and tailored reporting about the assets of high net-worth Morgan Stanley clients.[12]
In May 2017, Addepar acquired AltX, a machine learning platform aimed at alternative investments.[13]
In 2019, Addepar launched a mobile app for its portfolio management software.[14][15]
Products and services
[edit | edit source]Open API
[edit | edit source]In September 2016, Salesforce.com announced their partnership with Addepar for Salesforce's Wave Financial Services Cloud for financial advisers, making it easier to see across asset classes and produce a single visual for their clients.[16] One month later, Addepar released their Open API to provide "a programmatic solution to tie Addepar’s data and calculations into a multitude of other products and systems."[16]
References
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