Susan Estes, OpenDoor
Jersey City - The funds will be used to enhance the OpenDoor platform, improve its connectivity to current customers, and expand its network of client institutions and central banks.
OpenDoor's market-based solution is the first session-based, all-to-all, anonymous trading platform for Treasuries, specifically designed to enable the buy-side to both source and create liquidity, while enhancing the sell-side's role as a value-adding intermediary.
The platform, which launched April 25th, currently boasts nearly three dozen firms representing more than $6 trillion of AUM. Six sponsor-dealers are presently onboarded to trade for their principal accounts, and several have completed full connectivity allowing for customer clearing. Four more are expected to be onboarded in the upcoming months.
"We are grateful to all of our early adopters who have been willing to endorse OpenDoor's solution through ongoing auction participation," said OpenDoor CEO Susan Estes. "Of the $60+ billion in orders placed since launch, over 75% have been placed at or through mid-market."
Following an initial $2 million seed round in December 2015, OpenDoor completed its first Series A $10 million funding round in July 2016, making it the first woman-owned and operated bond trading platform. Following this latest funding round, OpenDoor continues to be majority owned and operated by women.