Leading supplier of technology solutions for financial markets, Pico, recently announced the close of a successful Series C funding round. Focussed on growth and global expansion, Pico also named Intel Capital as a key player in this strategic investment.
As one of the world’s most powerful capital firms, Intel Capital has been investing in innovative start-ups and disruptive technologies since 1991. Joining Intel Capital’s list of portfolio companies signals Pico’s growth trajectory and opportunities to build on its deep technology heritage to advance capabilities for clients. Joining the $135 million investment round was strategic partner EDBI, a previously announced global Asia-based investor. New investor CreditEase Fintech Investment Fund was also announced alongside Pico clients who include Goldman Sachs, J.P. Morgan, Wells Fargo, UBS, Nomura, DRW Venture Capital, Chicago Trading Company, Capital Markets Trading, and Simplex Investments.
In just 24 months, Pico has strengthened its platform and global reach, continuing to offer clients a competitive edge despite the volatility of this unprecedented time. Pico’s clients have also enjoyed peak message rates and exponential traffic growth. Speaking on the investment, Jarrod Yuster, Pico’s Chairman, Founder, and Co-CEO said, “The strengthening of our balance sheet will continue to allow us to realize our differentiating strategy of investing in building the most globally comprehensive, robust, scalable and high-performance infrastructure in the financial services industry that meets clients current and future needs.” He also stressed the significance of having Intel Capital join as an investor.
Intel’s expertise will be utilized in accelerating AI, big data, and analytics-based innovation. This will allow Pico to enhance its award-winning platform with automation tools for quicker and deterministic delivery with accuracy and oversight. Investments include increased capacity, resiliency, and diversity of its global financial services network, and introducing 100 Gigabit per second native bandwidth.
Pico has recently already introduced Intel's 2nd Gen Xeon Scalable platform with built-in AI acceleration in its fifth-generation analytics appliance family, bringing new benchmarks in performance and price improvement to its clients
According to Yuster, the latest funding round will enable Pico and Intel to collaborate on delivering a 100Gbps network data capture and a real-time streaming analytics platform for financial market trading. The companies are also in the early stages of development for building a financial services lab that will allow both companies to work with clients to incubate new concepts.