Addepar raises $150 mn in Series F financing, exceeds $2 bn valuation

By Pavithra R

Silicon Valley firm Addepar, a wealth management technology provider has announced securing $150 mn from D1 Capital Partners at a pre-money valuation of $2 bn as part of its Series F financing.

The company is planning to use the investment to further accelerate its rapid growth, fuel expansion of the business and workforce into new geographies and drive continued development of its category-defining platform.

Addepar was founded by Joe Lonsdale in 2009 and was built with the goal of creating a more transparent financial system. The fintech was launched in the wake of the financial crisis to meaningfully improve how finance works and enable more efficient capital allocation. The firm provides a wealth management platform that specializes in data aggregation, analytics and performance reporting. According to company data, the company has tracked over $2.7T client assets.

“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.

Addepar’s platform is used to process millions of accounts each day, empowering advisors to deliver timely advice and results, and to manage risk for their clients across all asset classes in any market environment. The firm marked last year as its strongest year on record across all key metrics including client and revenue growth, user engagement and client retention.

“At D1 we seek to back visionary companies that solve large, pressing problems. 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,” said Prateek Bhide, Principal at D1 Capital Partners.

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. Most recently, the firm 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.