Three months after reporting it had reached the milestone of $2 trillion in assets on its platform, wealth management technology provider and illiquid, alternatives aggregator Addepar announced Wednesday that it has closed a $117 million Series E round of funding.
The round was led by WestCap Group, which also invested $40 million in Addepar in March.
Other investors in the latest round included Addepar founder Joe Lonsdale’s 8VC, the venture fund he created, as well as money from Sway Ventures.
This brings Addepar’s total funding to about $325 million.
This latest injection of capital will be used to support the continued expansion of Addepar’s data aggregation, analysis and reporting platform used by over 500 advisory firms, family offices and banks, according to the company announcement.
In May, Addepar launched Marketplace, an application offered through the firm’s broker/dealer subsidiary Acervus Securities that lets advisors buy and sell alternative funds, private company securities, and invest in cash deposit programs in one place for the first time. And in September, the company introduced the Addepar Investor Sentiment Index, which was created using anonymized transaction data from the firm’s ultra- and high-net-worth investor clients captured on its platform.