NEW YORK, Oct. 10 /PRNewswire/ -- Javelin Technologies, Inc., the leader in electronic trading technology, today announced that it has signed a $11 million deal for its first round of funding. Opticality Ventures I, L.P., a major investor in Internet, finance, e-commerce, business-to-business and software development companies, leads a syndicate of strategic investors, including Advent Software, Inc., Robertson Stephens, Tradescape.Com Holdings, Thomson Financial, Collaborative Capital, Nextera Investments, L.L.C., Schoffstall Ventures, BHH Technology Ventures, L.L.C, Investec Ernst and Jack White (founder of Jack White Discount Brokerage).
``This first round has been about working with industry leaders and visionaries to get the ammunition we need to continue our role as the innovator of electronic trading technology,'' said George Kledaras, President and CEO of Javelin Technologies. ``The market for our technology has dramatically expanded over the last year. This investment signals the fact that Javelin possesses the technology and strategies this new market demands and is geared to deliver product quickly and efficiently.''
``George Kledaras was an early visionary in foreseeing the electronic trading trend. Javelin has executed very successfully in their quest to lead this growing market,'' says Hadar Pedhazur, founder of Opticality Ventures. ``They continue to advance, with products like FIXBox and Cherubino (a web-based technology). Javelin consistently meets the demands of the industry, and I am delighted to be a part of a company that is shaping the future of electronic trading.''
``Our existing connectivity solutions, and our future potential, have attracted an impressive, strategic team of investors, including industry leaders Advent and Thomson, innovators like Tradescape.Com, and investment banks Robertson Stephens and Investec Ernst,'' said Michael A. Chaladoff, CFO of Javelin Technologies, Inc. ``We intend to leverage these relationships to further develop our technologies and to maintain our role as global leaders.''
``Advent is pleased to be part of this group that has recognized the leading role Javelin has played in developing FIX-based electronic trading solutions for the securities industry,'' said Peter Caswell, President and CEO of Advent Software. ``Our investment reflects our commitment to Javelin's success, and our belief that the company will continue to strongly impact electronic trade communications.''
``Javelin is the clear leader in providing the technological infrastructure powering the world of electronic trading,'' said Scott Appleby, Principal of Robertson Stephens. ``We believe that Javelin's technology will eventually carry the majority of every institutional security order in the world.''
Javelin's first round of funding will be used for strategic purposes, including expanding worldwide sales efforts with new offices in Chicago, the Asia Pacific region, and other financial hubs.
About Javelin Technologies, Inc.
Javelin Technologies, Inc., based in New York City with offices in San Francisco and London, is the leading provider of electronic trading technology, providing universal connectivity for better trading. Javelin's electronic trading technology powers hundreds of clients including Chicago Board Options Exchange (CBOE), Yahoo!, Morgan Stanley Dean Witter, Advent Software, Fidelity Management Research, Instinet, Thomson Financial and Market XT/Tradescape. Javelin's innovations have also attracted a growing list of partners including IBM, Intel, Robertson Stephens, TIBCO and Investec Ernst. For information on Javelin's electronic trading solutions, visit www.javtech.com.
For more information, contact: Stephanie Cohen of Javelin Technologies, Inc., 212-422-6000, firstname.lastname@example.org; or Lisa Dowling of The Stephenson Group, 805-927-3534, email@example.com, for Javelin Technologies, Inc.