CloudMargin, a UK-based developer of collateral management software, raised $10m yesterday from investors including information and analytics provider IHS Markit and LVC, the venture capital arm of investment holding group Leucadia National.
VC firm Illuminate Financial Management also took part in the round alongside undisclosed additional existing investors, having backed a series A round of undisclosed size for the company in March 2017 after investing an undisclosed sum two years earlier.
Founded in 2014, CloudMargin offers cloud-based software that helps financial services providers conduct collateral management.
The technology automatically tracks clients’ net collateral position, keeping them abreast of impending deadlines and presenting key indicators on a customisable dashboard. IHS Markit integrated CloudMargin’s technology into its services under a now-expanded strategic partnership formed in June 2017.
CloudMargin, which doubled its client base over the past year, will spend the funding on product development and the expansion of its partnerships, sales and marketing in existing and new markets.