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MOUNTAIN VIEW, Calif., March 19, 2020 /PRNewswire/ -- Addepar, a leading technology platform for wealth management, announced an investment of $40 million by WestCap Group ("WestCap").The investment was led byLaurence Tosi ("L.T."), a member ofAddepar'sBoard of Directors for the past two years as well as WestCap's founder and managing partner,and by Scott Ganeles, senior partner atWestCap.Aslongtime partners,Tosi andGanelesalso co-foundediPreo, a leadingcapital marketsfintech company. "This latest financing from WestCap helps Addepar expand on the value we bring to our clients, which has fueled our growth trajectory over the past decade," said CEO Eric Poirier. "Our cloud-based data aggregation, analytics and reporting solution empowers Addepar's clients to give each of their clients a clear and complete understanding of their investment portfolio, from anywhere at any time. These capabilities are an absolute requirement in today's market environment, and our team's commitment to this problem space is stronger now than ever. With over $1.7 trillion in assets now managed on Addepar by some of the world's most respected firms, we have many opportunities to add to our offerings and deliver unmatched and lasting value to advisors and wealth managers. We're grateful for L.T.'s support over the years and are excited for the additional operating expertise and guidance contributed by Scott and the truly world class team at WestCap." Addepar will use the additional capital to continue investing heavily in research and development, market expansion and building on its industry leading platform which has set the company apart in an increasingly competitive space. "Addepar was created in response to the 2008 financial crisis and is uniquely poised to provide solutions and insights during times of extreme market volatility as we're seeing today. As we learned from our experiences with founding and scaling iLevel and iPreo, risk management software is a counter cyclical investment," said L.T. WestCap's Scott Ganeles added, "Having operated and grown fintech companies serving both public and private markets for the last 30 years, I am highly confident in Addepar's trajectory the company is perfectly positioned to arm advisors and investors with the best data, technology and products in order to make confident, data-driven decisions in a scalable way. Our investment supports our belief in the tangible value they provide, no matter the market conditions." For more information, please visit www.Addepar.com About Addepar Addepar is a wealth management platform that specializes in data aggregation, analytics and reporting for even the most complex investment portfolios. The company's platform aggregates portfolio, market and client data all in one place. It provides asset owners and advisors a clearer financial picture at every level, allowing them to make more informed and timely investment decisions. Addepar works with hundreds of leading financial advisors, family offices and large financial institutions that manage data for over $1.7 trillion of assets on the company's platform. In 2020, Addepar was named as a Forbes Fintech 50 and in 2018 received Morgan Stanley's Fintech Award for making a significant impact on the firm's mission of continuous innovation. Addepar is headquartered in Silicon Valley and has offices in New York City and Salt Lake City. About WestCap WestCap Group ("WestCap") is a Growth Equity firm originally founded by Laurence A. Tosi over 25 years ago as Weston Capital. WestCap has over $1 billion in assets under management. The firm focuses on growth-stage technology businesses in Fintech, Real Estate Tech, Healthcare Tech and asset-light marketplace platforms, all areas where the WestCap team has both operated and invested. Notable investments to date include Airbnb, Point Financial, Sonder, Blueground, Skillz, Addepar and viagogo. After making an initial investment in viagogo in early 2019, WestCap co-led viagago's acquisition of Stubhub in November 2019. WestCap's investors include leading family offices and institutions from around the world. The firm has offices in San Francisco, CA and New York City, NY. SOURCE Addepar Related Links http://www.addepar.com

Answer: Addepar Announces $40 Million in New Financing Investment from WestCap Group to support continued business growth