Pico offers a comprehensive portfolio including trading cloud infrastructure, connectivity, market data, software and analytics (including PicoNet instrumented with Corvil analytics). The company operates across 55 data centers and serves more than 430 clients, including the top 25 global banks and 39 exchanges. Founded in 2009, Pico has pursued growth through acquisitions such as Corvil Analytics in 2019 and Redline Trading Solutions in January 2022. The $200 million strategic investment from Golden Gate Capital is intended to accelerate M&A activity and further expand Pico’s data offering and market coverage. Management says the capital will also be used for general corporate purposes and continued investment in its high-performance, resilient infrastructure. Additional transaction terms were not disclosed. Pico is a leading provider of technology services for the global financial markets community. It offers the PicoNet global network platform instrumented natively with Corvil Analytics to deliver low-latency market access and telemetry. Recent investments expanded capacity, resiliency and diversity of PicoNet, introduced 100Gb native bandwidth on a pure optical backbone, and enabled Corvil Analytics for 100Gb networks. Pico plans to bolster its platform with automation tools for quicker, deterministic delivery and to continue global growth and expansion. The company announced completion of a $135M Series C and said the funding will strengthen its balance sheet and support its global expansion plans. Pico is collaborating with Intel to accelerate AI, big data and analytics-based innovation, including work on a 100Gbps network data capture and real-time streaming analytics platform and an exploratory financial services lab. Pico provides innovative, transparent, low-latency financial markets solutions coupled with an agile service-delivery platform. Its offering includes a globally comprehensive network platform, PicoNet, instrumented natively with Corvil analytics and telemetry. Pico serves more than 400 leading banks, exchanges, asset managers, fintech vendors and trading firms across five continents. Over the past 12 months the company has expanded its APAC presence with strategic hires, new offices and additional data-center presences in Singapore, Hong Kong, Tokyo, Korea and Taiwan. Within the next 18 months Pico plans to add 20 more data centers in the region and to grow its local headcount (targeting about 80 local employees). Financial details related to the EDBI investment were not disclosed in the announcement.

Total raised

$335M

Funding rounds

3

Latest round

Equity

Latest activity

Jul 2022