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Ending 2017 On A High Note: Elsen Closes $2.4M Funding Round

We’ve closed another round of funding to accelerate our growth and are adding even more talent to the team. We’re thrilled to welcome Jack Klinck, a former State Street and BNY Mellon executive, and current managing partner at Hyperplane Venture Capital, to our board of directors as chairman. With Jack’s experience in financial data (he founded State Street Global Exchange) and passion for building and running companies (he served as CEO of BNY Mellon’s European operations), we couldn’t ask for a better person to help guide us through our next period of growth. We are also fortunate to have Woody Benson from Launch Capital join our board as an observer. Woody is an outstanding operator and strategist, and we are thrilled to have him at the table.

Jack and Woody are joining us as part of a $2.4 million investment that’s led by Hyperplane with participation from Accomplice and Launch Capital. The funding will help us bolster sales and marketing, extend support for existing customers, and integrate more premium financial data into the Elsen nPlatform.

This is a great end to a great year that started when we unveiled the Elsen nPlatform and helped launch Thomson Reuters QA Point Powered by Elsen in the spring. As the first commercial product launched on the Elsen nPlatform, Thomson Reuters QA Point was a tremendous validation for Elsen’s technology, and the product’s success has been well beyond anyone’s expectations. In fact, Thomson Reuters has now rolled-out QA Point globally, months ahead of schedule, due to overwhelmingly positive customer feedback and demand.

In addition to the amazing achievements in the marketplace, Elsen received additional validation through a number of awards along the way. Most recently, we became a finalist in the UBS Future of Finance Challenge competition. We also won “Best Tech Innovation of the Year” at the 2017 Massachusetts Innovation & Technology Exchange (MITX) Awards, and “Innovative Tech of the Year: Financial” at the 2017 Mass Technology Leadership (MassTLC) Awards.

As 2017 comes to a close, we have a lot of great momentum to build on, and many exciting things planned for the year to come!

 

Happy Holidays,

The Elsen Team

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