Correlix Ltd. Raises Additional $8 Million in Financing Round Led by Sequoia Capital

2 September 2008

Correlix Ltd., a leader in Latency Intelligenceâ„¢ solutions that monitor and analyze trading execution and market-data flows in real time, today announced the closing of an $8 million Series B financing round led by Sequoia Capital, a leading venture capital player which was joined by existing investors Genesis Partners, Blumberg Capital and Xenia Ventures. Correlix will use the new financing to further enrich its Latency Intelligence solutions and to expand globally to meet the demands of its growing, global customer base.

Shawn Melamed, CEO said, “One of the most pressing issues impacting global capital market firms is how to increase speed and reduce latency when executing trades or obtaining market data in order to be competitive in the market. Our customers use our product to monitor, measure and analyze latency at each critical step of their flows to gain confidence that orders are executed with the least possible latency and that the market data is as fresh as possible. Sequoia Capital has a reputation for identifying new and growing market categories, and for identifying and supporting the innovative companies that will lead them. We are excited to have their support and backing as we capture this opportunity.”

"The advancements in the deployment and usage of automated trading systems make the Correlix value proposition a critical ingredient for every trader, fund and exchange looking to remain competitive in this demanding new reality,” said Yuval Baharav, a partner at Sequoia Capital. "Correlix has developed a unique technology, enabling its customers to quickly deploy high-resolution latency monitoring tools, achieve better results than current tools, and preserve the required flexibility in their architecture and business processes. In a market where every millisecond is translated into tens and hundreds of millions dollars, the additional edge, created by Correlix's technology, will make the difference between a successful transaction and failed one."

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