Siepe closes series A funding led by HNW individuals
Siepe, a provider of technology, data and analytics, has closed a Series A funding round led by a group of high net worth (HNW) individuals.
Siepe will use the proceeds to expand its cloud-based Software-as-a-Service (SaaS) and IT infrastructure service offerings.
It also wants to grow its executive team and increase sales and marketing investment.
The investment comes at a time of increased demand for robust cloud-based technology, especially as asset managers address the growing challenges of remote work environments.
Siepe recently appointed Brian Shearer as chief product officer. It also hired former Abacus Group director, Darrell Tucker, as managing director of business development.
“The capital funding is critical as Siepe focuses on helping investment firms alleviate technology concerns, while working remotely due to the COVID-19 outbreak,” says Siepe’s chief executive officer (CEO) and founder, Michael Pusateri.
“Darrell’s extensive IT background and project management skills will play a key role in helping address the buy-side’s growing need for resilient workflows and operational efficiencies.”
Tucker brings more than 21 years of IT and project management experience in alternative investment firms.
He will be responsible for Siepe’s overall business development initiatives, including driving strategic partnerships and implementing new procedures to enhance operational efficiencies. He will report directly to Siepe’s CEO Pusateri.
“Siepe is equipped with the level of security and responsiveness required during times of market stress and disruption. I am excited to join the team and look forward to helping the company form the right connections to further improve the technology landscape for investment management professionals,” says Tucker.
Siepe claims that its remote support and cloud-based infrastructure has been integral to mitigating any impact to their clients’ operational workflows.