SaaS Platform Replaces Legacy Voice Trading “Turrets” and Positions Financial Institutions to Unlock Valuable Market Intelligence
Cloud9 Technologies (“Cloud9”), the leading financial communications provider,has completed a$14million Series B investment fundraising, led by Barclays and including JPMorgan and NEX Group.
The proceeds will be used to accelerate development and global roll-out of its SaaS-based voice communications platform, which provides a comprehensive cloud-based replacement to traditional trading “turrets”; immediate access to a growing pool of liquidity; full interoperability with third-party systems; and real-time provision of high-fidelity audio, trading metadata and transcription.
In addition to its investment, Barclays will work with Cloud9 on the acceleration of the Company’s adoption across the industry. This follows JPMorgan’s earlier decision to onboard more than 2,000 internal traders and salespeople to Cloud9 as its primary tool for voice communication between the bank and its clients globally.
“Despite being a cornerstone of global financial markets, voice trading and its data have been siloed off from the intelligence that fuel capital markets strategies,” said Gerald Starr, CEO of Cloud9. “With the financial and strategic commitment of industry leaders such as Barclays, JPMorgan and NEX Group, we’re equipped to rapidly grow our role as the new standard for voice trading communications world-wide – ushering in an era in which voice is viewed as a key business asset.”
The Cloud9 trader voice cloud-based communications platform is a unified, digital trading solution for the voice trading community, critical for next-generation trader workflow integration, surveillance, and compliance.
“For the last few years, Cloud9 has proven its commitment to fostering long-overdue innovation in the trader voice space,” said Kester Keating, Head of US Strategic Investments at Barclays. “We were an early investor and believer in Cloud9, and we’re proud to support its continued growth and excited by the possibilities its technology can create.”
The implementation of a cloud-based voice trading solution creates an interoperable community with the capability to integrate with numerous third-party applications and analytics providers.