Correlix Ltd. Raises Additional $8 Million in Financing Round Led by Sequoia Capital
NEW YORK, Sept. 2 /PRNewswire/ -- Correlix Ltd.
(http://www.correlix.com/), a leader in Latency Intelligence(TM) solutions
that monitor and analyze trading execution and market-data flows in real
time, today announced the closing of an $8 million Series B financing round
led by Sequoia Capital, a leading venture capital player which was joined
by existing investors Genesis Partners, Blumberg Capital and Xenia
Ventures. Correlix will use the new financing to further enrich its Latency
Intelligence solutions and to expand globally to meet the demands of its
growing, global customer base.
Shawn Melamed, CEO said, "One of the most pressing issues impacting
global capital market firms is how to increase speed and reduce latency
when executing trades or obtaining market data in order to be competitive
in the market. Our customers use our product to monitor, measure and
analyze latency at each critical step of their flows to gain confidence
that orders are executed with the least possible latency and that the
market data is as fresh as possible. Sequoia Capital has a reputation for
identifying new and growing market categories, and for identifying and
supporting the innovative companies that will lead them. We are excited to
have their support and backing as we capture this opportunity."
"The advancements in the deployment and usage of automated trading
systems make the Correlix value proposition a critical ingredient for every
trader, fund and exchange looking to remain competitive in this demanding
new reality," said Yuval Baharav, a partner at Sequoia Capital. "Correlix
has developed a unique technology, enabling its customers to quickly deploy
high-resolution latency monitoring tools, achieve better results than
current tools, and preserve the required flexibility in their architecture
and business processes. In a market where every millisecond is translated
into tens and hundreds of millions dollars, the additional edge, created by
Correlix's technology, will make the difference between a successful
transaction and failed one."
ABOUT CORRELIX
Correlix Inc. enables customers to monitor measure and minimize latency in market data flow and trade execution in real time. Correlix Latency Intelligence(TM) (Correlix LI) software pinpoints and quantifies sources of latency reducing the time it takes by milliseconds to obtain and act on market data. Providing both real time and historical analysis, customers use Correlix products to trace trading transactions across complex, diverse landscapes to report multi-step flow latency by destination, customer or trade path. Correlix customers include capital market firms on the buy and sell side and in exchange environments.Established in 2005, Correlix is headquartered in New York with research and development offices in Israel. Correlix is venture financed by Sequoia Capital, Genesis Partners, Blumberg Capital and Xenia Ventures. For more information, visit http://www.correlix.com.
About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of Network Appliance, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of nVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube and Dominic Orr and Keerti Melkote of Aruba Wireless Networks. To learn more about Sequoia Capital visit www.sequoiacap.com.
Contact:
Yuval Baharav
SEQUOIA CAPITAL
yuval@sequoiacap.com
