Cloud9 Technologies, a cloud-based voice collaboration and solutions provider for the financial markets, completed a $17.5 million Series B funding round.
UBS Investment Bank, a multinational investment bank and financial services company, led the financing round with participation from existing investors, including J.P. Morgan and Barclays.
The proceeds will be used to expand the company’s business operations.
As part of the investment, Lee Fulmer, Global Head of Innovation Lab at UBS Investment Bank, will join the company’s board.
“Whether it’s working from an office or home, traders and financial institutions want optionality, and that’s what we’re providing. The transition to a virtual, cloud-based trading floor is accelerating as the industry recognizes the importance of a more flexible and intelligent voice communications model,” said Jerry Starr, Chief Executive Officer at Cloud9 Technologies.
Broadhaven Capital Partners served as financial advisor to Cloud9 Technologies, and Kluk Farber Law served as legal counsel.