Financial charting co ChartIQ raises another $4 mln in Series A funding

Financial charting co ChartIQ raises another $4 mln in Series A funding

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ChartIQ, a leader in HTML5 financial charting for capital markets, said on Monday it raised $4.0 million in a Series A funding at an unknown valuation. The lead investor was Illuminate Financial, a venture capital firm, followed by existing investors ValueStream Labs and Tribeca Angels, in addition to some angel investors that also took part in the ChartIQ financing.

This is the second round of Series A financing for ChartIQ. The first one took place in November 2014 when the company raised $850,000 from ValueStream Labs, Tribeca Angels, and Social Leverage.

ChartIQ funding

ChartIQ will use the collected funds to accellarate its global expansion. The company will open a new office in London and will expand its existing sales, marketing and engineering teams in Virginia and New York.

“Over the past four years, ChartIQ has become the global leader in HTML5 financial charting. Adoption of HTML5 technology in the Financial Services industry is exploding, and we will use this new capital infusion to meet the growing global demand for our products,” said Dan Schleifer, CEO of ChartIQ. “It was critical that we found a venture partner that shared our vision for the future of capital markets technology. Illuminate’s focus on Fintech and deep experience in capital markets is the perfect fit.”

ChartIQ’s technology is used by more than 100 institutional and retail financial service providers, including brokerages, banks, financial portals, trading platforms, and individual traders. The company offers a full range of HTML5 charting and data visualization tools – from idea identification to opportunity analysis to trade execution. Its solutions allow clients to upgrade the trading technologies they use to professional-grade HTML5-based ones.

ChartIQ’s technologies are used both by forex brokers like eToro and by forex platform developers like Leverate and Tradable.

Its biggest competitor is TradingView, a financial technology developer which provides HTML5 charts free of charge in exchange for a link to its online trading community. In 2015 it raised $3 mln in series A funding from private equity firm iTech Capital.

Series A financing usually is chosen when an early-stage company generates high revenue from its business model, but rarely in the black. Usually, Series A investors are venture capital funds or angel investors are willing to take the high risk levels found in early-stage company investments.

Source: ChartIQ

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