CloudMargin completed a new round of investment in the company totaling $10 million to support the firm’s rapid growth. The new investors are LVC, the venture investing arm of Leucadia National Corporation, the publicly traded investment holding company and parent of Jefferies, the global investment banking firm; and IHS Markit, a provider of critical information, analytics and solutions. Existing investors, including Illuminate Financial Management, also participated in the round.
In addition, CloudMargin significantly expanded the scope of its commercial alliance with IHS Markit announced last June. This will enhance the ability of IHS Markit to provide a more seamless and comprehensive suite of collateral management services to its customers. CloudMargin has more than doubled its client base over the past 12 months, adding global and regional asset managers, sell-side and regional banks, hedge funds and insurance brokers in Europe, the US and Asia Pacific.
In addition, CloudMargin has received commitments from its first two global investment banks and expects both to be live by the end of the calendar year. This will lead to further rapid growth in this networked environment of sell-side and buy-side firms. CloudMargin has achieved 250% annual growth in the number of collateral agreements hosted on its award-winning platform and expects this growth to continue. The investment will finance product development and growing connectivity to industry infrastructure. It will also help scale the company’s sales, partnerships and marketing efforts in both established and new regions.