Eventus Systems, Inc., a local software startup that monitors financial markets, said Wednesday it has raised a $10.5 million Series A funding round.
Austin's LiveOak Venture Partners and Chicago's Jump Capital led the new round of investment. Other investors included Coinbase Ventures in San Francisco and Chimera Securities in New York City.
Eventus Systems plans to use the new money to make key hires to boost sales and development. Meanwhile, it's expanding its board of directors, adding Krishna Srinivasan, a founding partner at LiveOak, and Peter Johnson, a principal at Jump.
“We look for Texas-based firms that can grow into world-class, category-dominating companies, and we believe that talent and domain experience are the critical ingredients for that success," Srinivasan said in a prepared statement. "The team at Eventus has many decades of hands-on experience as market practitioners with an intimate knowledge of the challenges that clients face."
Crunchbase shows Eventus had raised about $4.9 million in funding prior to Wednesday's news.
Eventus, part of a growing field of regtech startups, developed AI-driven software that monitors for market manipulation by surveilling vast amounts of trading data tied to equities, futures, foreign exchanges, cryptocurrencies and other financial tools. Its Validus platform is used by banks and investment firms to develop a better understanding of their risk profile, as well as compliance with a variety of regulations.
The company has partnered with a few other fintech and risk assessment organizations to scan markets for questionable behavior. Last year, it announced an agreement to integrate an analytics engine from Sterling Trading Tech into its offerings to help customers who use both software products. And it has partnered with Softek, QuantHouse and others.
Eventus CEO Travis Schwab said the company plans to expand its presence in Europe and Asia.
“We have embarked on an aggressive growth strategy following our third straight year of doubling both customers and revenue, and we’re looking to add a wide range of talented, experienced sales, development and service professionals to our team to take the firm to the next level," he said in a prepared statement.
