IRALOGIX announced it raised $22 million of new funding that will enable the company to expand its rapid growth, speed development of new platform features, increase its sales efforts and continue to drive an annual growth rate of more than 100%, as it has done for the past three years.
The financing was led by a group of individual financial technology investors represented by Matt Vettel and Nick Cayer, along with participation from Hybrid Capital, Roan Capital, University Growth Fund, Trog Hawley Capital, Circadian Ventures, Great North Ventures, and Riverfront Ventures. As part of the financing round, Peter de Silva, previously President of TD Ameritrade’s Retail division, President of Scottrade’s Investment Management and President/COO of UMB Financial Corporation., will join the IRALOGIX Board of Directors.
“The added funding will help us expand faster and serve an even greater number of leading financial services companies more effectively than ever before,” says David Bernard, IRALOGIX’s Chairman and CEO. “This capital raise is a testament to our mission to drive real change across the industry and having Peter de Silva lend his extensive expertise to our Board will help accelerate IRALOGIX to the next level.”
“IRALOGIX has a differentiated product solution that is getting strong traction within the market,” says Peter de Silva. “We believe the business is well positioned to take advantage of the market dynamics and I am excited to leverage my experience to help the IRALOGIX team continue its growth trajectory.”
