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ACTIV Financial closes investment from Bessemer Venture Partners

First Published 20th January 2010

Bessemer Venture Partners makes minority equity investment in ACTIV Financial

Frank Piasecki, co-founder and president, ACTIV Financial: "BVP's expertise in managing high-growth financial technology companies and their 100 year history of stability makes them an ideal partner to help propel ACTIV and our customers into the future."

ACTIV Financial, the provider of fully managed low-latency market data solutions, has announced that Bessemer Venture Partners has made a minority equity investment in the firm.

ACTIV will use the proceeds to drive new customer acquisition, power continued product innovation and meet the escalating market demand for quality, cost-effective and ultra-low latency market data solutions. The demand is being fueled by the tremendous growth in market data volumes and move toward co-location facilities to support advanced and profitable global trading strategies.

"We are happy to be able to complete this financing for the clear leader in low-latency market data solutions," said Rob Stavis, Partner at Bessemer Venture Partners. "ACTIV's best-of-breed technology and strong customer loyalty portends a rapid increase in industry adoption and growth. It's unusual to find an opportunity to invest in a company with the type of growth, broad product line and time-tested model that ACTIV offers. We see the company as a cornerstone of our portfolio of financial services investments."

"Companies today require fast access to global market data, but solutions must offer a way to control escalating costs in the face of the explosion in message rates," said Frank Piasecki, co-founder and president of ACTIV Financial. "ACTIV is uniquely suited to manage these evolving market challenges. BVP's expertise in managing high-growth financial technology companies and their 100 year history of stability makes them an ideal partner to help propel ACTIV and our customers into the future. We look forward to continuing to capitalize on demand and help sophisticated investors meet their complex global data and trading requirements."