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Pico, a provider of technology services for global financial markets, formally announced the closure on a strategic investment with Intel Corporation-owned (NASDAQ: INTC) Intel Capital.
What Happened: As part of a broader $135 million Series C round that will fuel growth and innovation at Pico, Intel’s global investment organization joined as an investor.
The development comes after Pico made significant progress in strengthening its platform and global reach, which provides clients and market participants the edge to combat volatility and traffic growth, among other things.
“We are honored and proud to have Intel Capital join as an investor and to reach this important funding milestone which is supporting our ongoing growth and global expansion,” said Jarrod Yuster, Pico Chairman, Founder and Co-CEO. “The strengthening of our balance sheet will continue to allow us to realize our differentiating strategy of investing in building the most globally comprehensive, robust, scalable and high-performance infrastructure in the financial services industry that meets clients current and future needs.”
Why It Matters: The investment will bolster Pico’s development of award-winning technologies, as well as the firm’s foray into fintech areas such as automation.
“Fintech’s impact on capital markets continues to grow and those who successfully tap technological innovations can transform their competitiveness,” said Andy Fligel, Senior Managing Director, at Intel Capital.
“Pico’s track record of innovation and strategic roadmap with Intel technology at its foundation should deliver low-latency high throughput process automation, machine learning and advanced analytics for the financial services industry. We look forward to playing an active role in their success.”
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