Addepar

Last updated
Addepar, Inc.
Company type Private
Industry Financial technology
FoundedSeptember 2009;15 years ago (2009-09)
Founders
Headquarters
Mountain View, California
,
United States
Number of locations
7 (2024)
Area served
Worldwide
Key people
Joe Lonsdale (Chairman)
Eric Poirier (CEO) [1]
ProductsAddepar Platform
Open API
Services
Number of employees
1000 [2]  (2023)
Website addepar.com

Addepar, Inc. is a cloud based American wealth management software platform for RIAs (registered investment advisors) specializing in data aggregation, analytics, and portfolio reporting. [3] Addepar's clientele is primarily high-net-worth and ultra-high-net-worth individuals and companies. [4] [5]

Contents

History

Origin

In 2003, Peter Thiel founded Palantir Technologies along with four other founders, including Joe Lonsdale. In 2009, Lonsdale launched Addepar with Jason Mirra, another Palantir employee. [6] [7] One of their earliest clients was Mark Zuckerberg. [8] The company name is based on a line in Ovid’s Metamorphoses meaning “Add a little to a little and you’ll have a great amount.” [9]

Management transition

In 2013, Addepar sought to transition out of start-up mode, replacing Lonsdale and Michael Paulus with new CEO Eric Poirier previously of Palantir and hiring a COO to start building out the company's management. [10]

Funding and expansion

In 2017, Addepar received a $140 million round of funding from Valor Equity Partners. [11] The same year, Addepar partnered with Morgan Stanley, providing software that consolidated information and tailored reporting about the assets of high net-worth Morgan Stanley clients. [12]

In May 2017, Addepar acquired AltX, a machine learning platform aimed at alternative investments. [13]

In 2019, Addepar launched a mobile app for its portfolio management software. [14] [15]

Products and services

Open API

In September 2016, Salesforce.com announced their partnership with Addepar for Salesforce's Wave Financial Services Cloud for financial advisers, making it easier to see across asset classes and produce a single visual for their clients. [16] One month later, Addepar released their Open API to provide "a programmatic solution to tie Addepar’s data and calculations into a multitude of other products and systems." [16]

References

  1. ↑ Feintzeig, Rachel (15 June 2016). "Male CEOs Detail Their Work-Life Rules". No. Eastern edition. New York, N.Y., United States: Wall Street Journal. Dow Jones & Company Inc. p. B1. Retrieved 21 December 2016.
  2. ↑ Beltran, Luisa (17 January 2023). "Addepar, a wealth management startup launched by the co-founder of Palantir, is the latest fintech to cut jobs". Fortune.
  3. ↑ "How Addepar built an ecosystem around the ultra-high net worth investment community with CEO Eric Poirier". Tearsheet. Retrieved 26 November 2019.
  4. ↑ "Addepar". Simple. Retrieved 2025-08-23.
  5. ↑ "Fidelity boosts tech offerings for advisors". Financial Planning. Retrieved 26 November 2019.
  6. ↑ Vance, Ashlee (18 October 2012). "Addepar's Software for the Super-Rich". United States: Bloomberg Businessweek. Bloomberg L.P. Retrieved 30 January 2017.
  7. ↑ Hardy, Quentin (3 August 2014). "Wealth Managers Enlist Spy Tools to Map Portfolios". The New York Times.
  8. ↑ Hampton, Dina (8 March 2013). "10 Most Influential RIA Figures Going Into 2013 and How They're Reshaping the Industry, Part 1". United States: RIABiz. RIABiz LLC. Retrieved 13 February 2017.
  9. ↑ Lashinsky, Adam (11 September 2012). "Money management, Silicon Valley-style". United States: Fortune. Time Inc. Retrieved 27 December 2016.
  10. ↑ "Addepar Valued at $2.17 Billion as Investors Bet on Wealth-Management Tech" . Retrieved 17 June 2021.
  11. ↑ "Addepar CEO says investors want better returns, fear volatility". Reuters. Retrieved 26 November 2019.
  12. ↑ "Morgan Stanley partners with Addepar to see more of clients' wealth". Reuters. Retrieved 26 November 2019.
  13. ↑ "Addepar acquires alt investment platform". Financial Planning. 2017-05-17. Retrieved 2020-03-26.
  14. ↑ "What's behind Addepar's latest executive hires". Financial Planning. Retrieved 26 November 2019.
  15. ↑ "Two fintech firms providing tools for uber wealthy clients". InvestmentNews. Retrieved 26 November 2019.
  16. 1 2 Hobey, Erin (26 October 2016). "Addepar: With $500B in Assets & New Salesforce Partnership, Launches Open API". United States: Crowdfund Insider. Crowded Media Group. Retrieved 29 December 2016.
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