Opensee Raises EUR11 Million in Series A to Democratise Real-Time Data Analytics for Financial InstitutionsDEC 2022
Opensee’s platform gives Risk, Finance and Front Office users intuitive access to 100% of their data with advanced analytics embedded to improve decision making and regulatory reporting
Opensee to expand in North America and SE Asia; broaden the range of data intensive use cases powered by AI analytics
Paris, 15th December, 2022 — Opensee, the leading platform allowing business users at financial institutions to analyse the most granular data in real time, has raised 11 million euros in a Series A funding round led by Omnes Capital, with the participation of Laurion Capital and Societe Generale Ventures.
Today, financial institutions are storing unprecedented volumes of data as new regulations have introduced reporting that has multiplied the underlying data requirements 10-fold or more. Legacy data architecture at most institutions is unable to support real-time analytics or allow business units to realise the full potential from the data they store.
Opensee addresses the data stack challenge facing financial institutions through a single, scalable platform able to absorb the exponential growth in collected data and make 100% of the data accessible in real time, to the most granular level and with no limit on the size of the data set.
The platform allows business users to manipulate data for simple or complex calculations with embedded analytics for a wide range of use cases, ranging from risk management and regulatory reporting, to trading decisions and ESG analysis. It removes the need for additional computing tools and significantly reduces operational risk. Low code analytics enable Front Office, Risk and Finance managers to harness data for more informed decision-making, to identify opportunities to gain a competitive advantage or to respond better to client needs.
Tier 1 banks currently use the Opensee platform for analysis and the production chain of regulatory reporting in capital markets, liquidity and capital reporting by finance departments. Asset managers, hedge funds and brokers use it for analysing and enhancing trade execution. To democratise access to data at scale, Opensee has gone live in offering a public Cloud hosted platform with turnkey solutions, building on the initial deployment of its platform on-premise or on clients’ Private Clouds.
The Series A funding will support Opensee’s innovative product roadmap, the development of advanced AI analytics to support automated data quality controls and certification as well as multiple turnkey solutions delivered as a fully managed Cloud SaaS. Opensee will also add to its 70+ team of experts in data and financial markets while expanding its international footprint in North America and SE Asia to drive sales and implement a follow the sun support network for its clients.
Stephane Rio, Founder and CEO of Opensee, said: “Our goal is to enable more financial institutions to leverage the valuable business and risk intelligence hidden within their data. We are making our platform and solutions more widely available through our new fully managed Cloud SaaS offering. This funding round has brought us a complementary group of international investors which shares our vision and whose support will be invaluable in the next stage in our growth journey.”
François-Xavier Dedde, Director at Omnes Capital’s Venture team, who will be joining Opensee’s Board, said: “With outdated data stacks and increased regulatory pressures, financial institutions have a hard time coping with an ever-increasing mix of cost and complexity. Opensee’s solutions are a clear answer to these challenges.”
Emmanuel Naim from Laurion Capital Management, another new member of Opensee’s Board, said: “Recent market conditions have highlighted how the understanding of any metric is more important than the calculation itself. We’re delighted to be supporting the company in its development and US expansion.”
Didier Lallemand, Managing Director of Societe Generale Ventures, said: “The technology, expertise and client-facing approach that Opensee offers combined with the feedback of our internal stakeholders after the implementation of the cutting-edge solution, give us great confidence to support the company in its growth trajectory.”
Simon Packard – Streets Consulting
Email: [email protected]
Notes to the Editor:
Opensee democratises multidimensional Data Analytics for Financial Institutions allowing financial institutions to leverage 100% of the risk, liquidity, trading, market and ESG data in their core banking functions. Opensee offers the only platform providing risk managers and front office users a single solution for enhanced data analysis, empowering them to explore real time unlimited amounts of data down to the most granular level. Opensee enables institutions to lower their infrastructure costs, to gain competitive advantage and to unlock vital business-user-led opportunities. For more information please visit our website www.opensee.io or follow us on LinkedIn and Twitter
About Omnes Capital
Omnes is a leading private equity and infrastructure investor. With over €5 billions in assets under
management, it provides companies with the capital they need to fund their growth, in three key areas: venture capital, growth & buyout capital and infrastructure. Omnes is wholly-owned by its employees. It is committed to ESG issues and has founded the Fondation Omnes to fund initiatives in favour of children and young people. It is a signatory to the United Nations Principles for Responsible Investment (PRI). For more information, please visit www.omnescapital.com
About Laurion Capital
Laurion Capital Management LP is an investment firm based in New York City with over 60 employees. Since its formation in 2005, Laurion has been an active participant in many of the global capital markets on behalf of a variety of investor types, including institutions, pensions, endowments and foundations, and fund of funds. Laurion employs a global multi-disciplinary approach that focuses on a wide range of strategies that typically seek to analyze common sense structural and behavioral inefficiencies in the markets then employ discretionary and quantitative trading strategies to capture these opportunities. For more information, please visit https://www.laurioncap.com/
About Societe Generale Ventures
We are the Societe Generale Group’s Corporate Venture Capital (CVC) arm dedicated to innovation. We invest in startups and fintechs ranging from early stage to growth that provide new products, innovative technologies or disruptive business models. We look to find strategic synergies between startups and the Group’s 25 business and service units across 61 countries to better serve our 30 million clients worldwide. We build long-term partnerships with our startups by giving them preferential access to our experts and international network. For more information, visit our website https://www.ventures.societegenerale.com/en/