Cloud9 secured $17.5M in Series B funding round backed by UBS


Cloud9 Technologies, a New York-based cloud-based communications company, has now secured $17.5 million in Series B funding round.

Cloud9 Technologies is founded by Jerry Starr in the year 2014. It offers a voice communication and analytics platform designed for the needs of the financial markets.

The company connects counterparties with the help of a cloud-based communications platform that eliminates the expenses which are associated with legacy hardware and telecommunication based solutions, with front office mainly focused data and transcription, purpose-built for the financial markets.

Executive Opinion

Lee Fulmer, Global Head of Innovation Lab at UBS Investment Bank, said, "Our decision to invest in and partner with Cloud9 makes sense for many reasons. Not only are we committed to equipping our own traders with tools for seamless and agile communications - even more relevant today during the current COVID-19 crisis - but also because we see many benefits to a cloud-based environment and the data insights that come with it".

Michael Elanjian, Head of Digital Innovation, Corporate & Investment Bank, J.P. Morgan, said, "We have been strong supporters in Cloud9's vision for cloud-enabled voice trading. We're at a turning point in how technology is transforming trading floors and Cloud9 is playing a critical role in the evolution of voice trading."

Cloud9 Technologies's Latest Funding

The round was backed by the UBS, with participation from existing investors, which includes the Barclays and J.P. Morgan.

The company, as of now, has plans to use the new funds to expand its operations and business outreach.
PC: Pablo, Unsplash

Note: We at TechSutram take our ethics very seriously. More information about it can be found here.
Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

No comments:

Post a Comment

    Your valuable comments are welcome. (Moderated)