NEW YORK--(EON: Enhanced Online News)--OpenExchange, the community-based video service for the financial services and investor relations community, today announced it has completed its $6.0 million in Series B funding. Through this financing, Ipreo, a leading global provider of market intelligence, investor data and workflow solutions to capital markets and corporate professionals, joins Barclays as an investor in the company. OpenExchange will use this new capital to further expand its client service infrastructure and enhance its product capabilities.
“Ipreo’s entire offering is centered around better connecting all the players in the capital markets, with information and software solutions that align with and improve their workflow”
Mark Loehr, CEO of OpenExchange, said: “We believe that virtual meetings will be pervasive in the financial community within two years and that adoption will be accelerated as the process is integrated into existing meeting workflows. OpenExchange is uniquely positioned to leverage this trend and the completion our funding is perfectly timed to support and enhance the growth our community is experiencing.”
There are few industries that can match financial services for its meeting intensity and dependence on trust-based relationships. This community’s interest in using video to have meaningful interactions with their counterparts has been growing for some time, and OpenExchange successfully addresses this need by connecting investors, analysts, clients and colleagues over video in a simple, repeatable and secure manner. Combining video conferencing interoperability with its authenticated global directory, OpenExchange members form a virtual community of financial professionals who can make scheduled and instant video calls from conference rooms, desktops and mobile devices.
“The financial community is always looking for ways to expand interactions and deepen relationships with clients and partners,” said Alan Sorkin, managing director and head of client strategy and institutional corporate marketing for global equities at Barclays. “OpenExchange’s community-based solution supports them in these efforts. We are impressed with their vision towards transforming the landscape of client relationships.” Sorkin joined OpenExchange’s board of directors earlier this year.
In addition, OpenExchange has expanded its partnership with Ipreo to offer virtual meeting solutions to both corporate and capital market clients. The two firms announced a partnership in June to integrate OpenExchange’s videoconferencing capabilities into Ipreo’s investor relations workflow application. Under the expanded partnership, Ipreo will now be offering OpenExchange solutions to both corporate and capital markets professionals, with seamless integration of video-related capabilities into a number of Ipreo’s platforms to come in 2014.
Doug Ashton, OpenExchange founder and vice president, product development, said: “We are proud to be aligned with visionary companies such as Barclays and Ipreo and we believe the financial services and investor relations community will be excited about the integrated product potential that OpenExchange and Ipreo will be bringing to the market.”
Ipreo is a global leader in providing market intelligence, data, and technology solutions to all participants in the global capital markets, including sell-side banks, publicly traded companies, and buy-side institutions. From new issuance through ongoing investor management, its unique solutions drive connectivity and efficiency throughout all stages of the capital-raising process.
“Ipreo’s entire offering is centered around better connecting all the players in the capital markets, with information and software solutions that align with and improve their workflow,” said Kevin Marcus, president and COO of Ipreo. “Our investment in OpenExchange shows our strong commitment to the relationship and our belief in a shared vision for the future of communications.” Ipreo’s head of global equity capital markets, Jennifer Sun, will also take an observer seat on OpenExchange’s board of directors.
OpenExchange has a new approach to B2B video collaboration: an online community exclusively for investor communications. OpenExchange’s easy-to-use, secure interface enables public companies, investment banks and asset managers to find each other, schedule and attend video meetings. For more information, please visit www.openexc.com.