The round was co-led by Valor Equity Partners, Harry McPike, and 8VC, the venture firm led by Addepar and Palantir co-founder Joe Lonsdale. With the new capital, Addepar will invest in R&D and the expansion of its app ecosystem, furthering its commitment to radically improve the financial services industry by building one platform where every financial professional can access data on every aspect of global finance.

"Much of the technology infrastructure that powers global finance was built 20 to 40 years ago; to transform financial services, we need to reimagine and rebuild the foundation," said Joe Lonsdale, co-founder of Addepar and partner at 8VC. "Addepar has built a world-class team and technology that is poised to become the universal operating system for finance. It has connected much of the financial services ecosystem by becoming the leading platform for asset owners and advisors, capturing and aggregating data from multiple sources and helping to apply it in the most intuitive and impactful ways -- and the ecosystem of partners and applications building on top of the platform is just getting going, and will be more important than anybody understands."

The company also announced the addition of Valor Equity Partners' Founder, Managing Partner, and Chief Investment Officer Antonio Gracias to its Board of Directors. Gracias is known for backing game-changing technology companies that are forging entirely new markets, and has been a key investor in Elon Musk's companies. He currently serves as Lead Independent Director at Tesla Motors and Board Director at SpaceX and Marathon Technologies.

"Finance doesn't have a common platform with a shared data model and consistent language," said Eric Poirier, CEO of Addepar. "We are delivering a unified data platform to enable a new level innovation and connection across the industry, and give wealth advisors the technology to allow them to focus on providing strategic advice to their clients. The traction we are seeing across the financial world -- from family offices to Wall Street -- underscores that we are solving a major pain point. This new funding from a group of visionaries that understand our mission, coupled with one of the industry's biggest champions joining our board, will allow our incredible team to keep building so we can effect broad change in wealth management."

The new round of funding reinforces Addepar's strong corporate momentum over the past year. With over $750 billion in assets on the platform, the company has experienced rapid growth, driven by increasing global demand from major financial institutions. Strategic initiatives also fueled company momentum, including the May 2017 acquisition of AltX to double down on the high-growth alternatives market. Last fall, Addepar launched the Addepar Open API and added numerous integrations to its roster.

About Addepar
Addepar is the financial operating system that brings common sense and data-driven investing to our financial world. Addepar gives asset owners and advisors a clearer financial picture at every level, all in one place. It handles all types of assets denominated in any currency. With customizable reporting, financial advisors can visualize and communicate relevant information to anyone who needs it. Secure, scalable, and fast, Addepar is purpose-built to power the global financial system. Hundreds of single and multi-family offices, wealth advisors, large financial institutions, endowments, and foundations manage over $750 billion in assets on the Addepar platform. Addepar has offices in Silicon Valley, New York, Salt Lake City, and Chicago. Learn more at addepar.com.