PALO ALTO, CALIF. -- January 13, 2003 -- Trident Capital, a national venture capital firm focusing on information technology, today announced a $7 million investment in DerivaTech, the specialist provider of advanced currency derivatives pricing, analytics, transaction processing and risk management solutions. DerivaTech will use the series A round for product expansion, sales and marketing. Trident selected DerivaTech because of its products' unique approach to providing sophisticated risk analysis of financial derivatives.
"DerivaTech has been successful developing cutting edge analytical solutions that meet the requirements of large and small financial institutions around the world," said Venetia Kontogouris, managing director at Trident Capital. "The recent volatility in the financial markets has created increased demand for products that can assess and manage risk in all types of financial transactions. We believe DerivaTech is well positioned to capitalize on this opportunity."
"Beyond the continued development of our Foreign Exchange derivatives solution suite, this financing also provides expansion capital for DerivaTechâs growth into additional asset classes," said Nicholas K. Hatzopoulos, chief executive officer at DerivaTech. "Trident Capital's resources and proven track record in bringing added value to its portfolio companies provides DerivaTech with a beneficial partnership and the immediate opportunity to increase its market share and leadership in the derivatives software market."
DerivaTech provides best-of-breed solutions for currency derivatives. The company rapidly acquired a market reputation by raising the standards in both the pricing and risk management of vanilla and exotic option structures. DerivaTechâs widely acclaimed, innovative and comprehensive volatility surface modeling enables the generation of consistent and accurate derivatives pricing and unique, industry leading risk measurements.