The Roberts Group Announces Strategic Investment From Polaris Partners
Market Data Management SaaS Company Poised for Significant Global Expansion
NEW YORK, NY, April 3, 2014-- The Roberts Group (TRG) today announced a strategic investment from Polaris Partners, which will further enable the company to continue on its impressive growth trajectory in delivering market data expertise and cost transparency to the Financial Services industry. Founded in 1998, TRG has served as a leader in helping top financial institutions manage their market data inventory and associated expenses, collectively achieving client savings of hundreds of millions of dollars annually. The terms of the transaction were not disclosed.
Robert Leitner, TRG's co-founder and Chief Executive Officer, expressed his enthusiasm for the partnership and the future of the company:
"TRG has enjoyed over 15 years of tremendous success delivering the technology that enables financial institutions of all types and sizes to simplify an increasingly complex information landscape. From vendor, contract and invoice management to the growing demands of the user community, TRG's proven solutions continue to drive automation and efficiency, while enabling firms to remain in compliance with important regulations and keeping expenses under control. The market opportunity continues to expand and Polaris is the right partner to further grow our business in the same customer-focused spirit that has served our clients so well for so long. The future is bright for all of our stakeholders."
With the equity investment, Polaris Partner Jason Trevisan and Senior Associate Dylan Pearce will join the TRG Board of Directors and will work closely with existing management to continue the company's legacy of high customer satisfaction while aggressively expanding their proven business model.
"We're thrilled to partner with The Roberts Group team to catalyze their growth in this important market," said Trevisan. "Financial institutions are spending billions of dollars every year in complex contracts with market data providers. TRG's software platform has proven to be a superior solution as evidenced by recent large customer wins comprised of financial institutions that have made a clear choice in selecting a provider. We are committed to further strengthening TRG's market leadership while expanding their offerings and footprint globally."
"The amount of data consumed by financial institutions continues to grow at unprecedented rates," said Dylan Pearce. "We see a tremendous opportunity to accelerate TRG's growth by continuing to sign blue chip and mid-market financial institutions and pursuing key growth strategies. We look forward to partnering with Robert and his team as TRG expands its world-class SaaS product offering and support to its clients."
About The Roberts Group
Since 1998, The Roberts Group has been providing leading market data cost and inventory management solutions to the global Financial Services industry. Through its proven delivery of system and service offerings, TRG continues to distinguish itself throughout the industry with a growing client base, currently managing nearly $2 Billion in expenses through its Financial Information Tracking System (FITS). From small private hedge funds to the largest global financial institutions, buy-side and sell-side, FITS can help reduce market data spend between 10% and 30%. FITS is available as a secure, SaaS-delivered solution ("FITS Online") or for internal installation.
About Polaris Partners
Founded in 1996, Polaris Partners has more than $3.5 billion in capital under management invested into a diverse portfolio of technology and healthcare companies throughout their lifecycles. From the earliest startup phases through the growth stages, Polaris Partners takes minority and majority positions alongside outstanding management teams to help grow industry leading companies. With offices in Boston, San Francisco and Dublin, Polaris partners with an unparalleled network of repeat CEOs, entrepreneurs, top scientists and emerging innovators who are positioned to make a significant impact in their fields and vastly improve the way in which we all live and work. The result: Hundreds of growing companies, thousands of jobs generated, and billions of dollars of value created. For more information, visit: www.polarispartners.com.
For more information and/or a demonstration of the latest FITS Online product suite, please contact:
The Roberts Group
Director, Business Development
+1 212-499-2680 x16
Vice President of Communications
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