EquaMetrics Closes $4.5 Million Seed Round to Expand Market for Industry’s First “Drag and Drop” Algorithmic Trading Application
NEW YORK, July 26, 2013 /PRNewswire/ — EquaMetrics Inc., a financial technology firm that is making algorithmic trading accessible to all traders, today announced that it has secured the final $2 million to close its $4.5 million round of seed funding from private angel investors, after operating in stealth for two years then launching its first product in June.
The funding will be used to expand company infrastructure and operations, including broadening the development cycle, high-profile executive recruitment and marketing of its algorithmic trading application RIZM(TM), which became available last month and has been a hot topic among trading and stock pundits since its release.
“We are excited to announce the close of our seed round and see immense market opportunity for EquaMetrics, especially given early customer adoption of RIZM since its public release,” said Chris Ivey, founder and chief executive of EquaMetrics. “We are now beginning conversations with strategic partners in the venture community who share our interest in taking RIZM to the next level, revolutionizing the algorithmic trading landscape, and establishing what Wall Street 2.0 means to the world.”
EquaMetrics’ flagship product RIZM is a powerful visual programming tool with a simple drag and drop interface that enables traders to build, test and deploy complex algo-trading strategies without any knowledge of programming, coding or high-level mathematics. Offered on a monthly subscription basis beginning at $99 a month, RIZM delivers comprehensive portfolio management and research features.
RIZM supports equities, futures and FX trading, with live trading connections to Interactive Brokers and Forex Capital Markets (NYSE: FXCM). The company plans to add options and fixed income trading, along with live connections to all mainstream retail and institutional brokers.
EquaMetrics is a New York-based financial technology firm that has developed an innovative cloud-based platform enabling traders across all asset classes to leverage algorithmic trading. Founded in 2011, EquaMetrics has raised $4.5 million from private angel investors and has built a team of industry leaders, entrepreneurs and financial technicians. For more information, visit www.equametrics.com.
SOURCE EquaMetrics Inc.