HTML5-based financial charting provider ChartIQ has raised $17.4 million in Series B funding, led by Germany-based investment firm Digital+ Partners, which focuses exclusively on backing B2B tech startups that generate revenues between €5 million to €25 million. Current investors Financial Management, Social Leverage , Illuminate Financial and New York-based ValueStream Ventures also participated in the round.
With the addition of the Series B capital, ChartIQ has raised a total of $20 million since its founding in 2012. The new funds will allow the Charlottesville-based company to hire more employees and invest heavily in strategic growth areas such as cryptocurrency-related products. ChartIQ currently employs a total of 50 workers globally.
“This infusion of new capital will accelerate our ability to help firms build smart, modern and integrated desktops, while maintaining the value of legacy software,” said Dan Schleifer, CEO and co-founder of ChartIQ.
ChartIQ provides financial charting and data visualization software to banks, brokerages, financial portals, trading platforms, and research Analytics providers.
“ChartIQ is a mature revenue-producing company and is well-positioned for continued leadership in this expanding market,” Patrick Beitel, founding partner at Digital+ Partners further states.
He added: “As financial firms undergo a massive digital shift, ChartIQ provides a great opportunity to work more intelligently by providing firms with solutions to build workspaces that are easier to use, more efficient and highly coordinated.”
Expanding into Crypto Space
ChartIQ has recently expanded its product suite for cryptocurrency traders with a crypto-specific analysis and trading toolkit. The product is considered a charting tool but is bundled with many other features to help traders develop and execute their strategies.
The new offering is the latest in a spate of deals since the trading software maker expanded into the cryptocurrency market, culminating in partnerships with leading bitcoin exchanges like Coinone, BitStamp, and Bittrex, amongst others.
Powered by the HTML5 Charting Library, ChartIQ’s market depth chart lets traders get access to live streamed price, volume, and order book data from tens of crypto exchanges in real-time.
For the B2B side, it offers a powerful charting engine that can handle heavy loads of cryptocurrency data, together with 100 technical indicators, drawing tools, social sharing and saving capabilities that improve engagement and retention rates for brokerages.
