NEW YORK, Jan. 9, 2013 /PRNewswire/ -- SR Labs, a leading provider of high-performance electronic-trading solutions for the global financial services industry, today announced the completion of a $53 million investment from Insight Venture Partners.
SR Labs plans to use the capital to expand its sales and marketing operations, to accelerate its growth outside of North America, and to continue to fund product innovation. To further those goals, SR Labs has opened a new development center in Pune, India, to support its customers in Asia Pacific and Europe, where systematic trading is growing rapidly.
Srinivasan Ramiah, founder and CEO of SR Labs, said, "We are excited to have Insight as a partner. As electronic trading is expanding beyond North America, we intend to expand our operations globally. We will be leveraging Insight's expertise in international markets to set up operations to better serve our customers in Europe, Asia and Latin America."
Founded in 2007, SR Labs has grown rapidly, with 100% year-on-year profitable growth since inception. SR Labs provides technology that enables the data-gathering and execution of electronic trading. Its low-latency market data feed handlers and high-speed exchange gateways work across multiple asset classes. SR Labs' clients include top investment banks, hedge funds, proprietary trading firms and providers of trading technology software. The company has an impressive list of customers, including industry leaders such as Credit Suisse, JP Morgan and Morgan Stanley.
"We are excited about the high caliber of SR Labs' products and the company's dedication to serving its customers. Our investment will enable SR Labs to continue to deliver best-in-class technology and support," said Deven Parekh, managing director at Insight Venture Partners. "We are especially encouraged that leading financial institutions increasingly are using cost-effective third-party technology, such as SR Labs, in their trading operations. We believe this will continue to be a strong source of growth in this market."
As part of the transaction, Deven Parekh, managing director, and Martin Angert, principal, from Insight Venture Partners will join the board of directors.
About SR Labs
Street Response Laboratories (SR Labs) provides low-latency market data and exchange-connectivity solutions for the financial industry. SR Labs market data solution provides extensive feed coverage including all major North American, European and Asian Exchanges. Our flagship products, SMDS and SREX, currently are used by top-tier investment banks and hedge funds. To find out more, please visit www.srtechlabs.com.
About Insight Venture Partners
Insight Venture Partners is a leading venture capital and private equity firm investing in on-premise and SaaS-based software, eCommerce, internet and data-services companies. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments worldwide. Our mission is to find, fund and work successfully with visionary executives who are driving change in their industries. We provide founders with practical, hands-on growth expertise to foster long-term success. For more information, visit insightpartners.com.
SOURCE Insight Venture Partners