Addepar
| Company type | Private |
|---|---|
| Industry | Financial technology, Software |
| Founded | 2009 |
| Founder | Joe Lonsdale, Jason Mirra |
| Headquarters | United States |
Area served | Worldwide |
Key people | Eric Poirier (CEO) |
| Products | Wealth management software, Data aggregation, Analytics, Portfolio reporting, Open API |
Addepar, Inc. is a U.S.-based cloud software platform tailored for registered investment advisors (RIAs) specializing in wealth management, with an emphasis on data aggregation, analytics, and portfolio reporting. Its main clientele consists of high-net-worth and ultra-high-net-worth individuals, as well as corporate entities.
Founding
In 2003, Peter Thiel co-established Palantir Technologies alongside Joe Lonsdale and others. Six years later, in 2009, Lonsdale teamed up with Palantir colleague Jason Mirra to create Addepar. Among its initial users was Mark Zuckerberg. The company’s name is inspired by Ovid’s Metamorphoses, symbolizing the concept of "adding a little to a little to create something substantial."
Leadership evolution
The year 2013 marked a pivotal moment for Addepar as it shifted from its startup phase by appointing Eric Poirier—formerly affiliated with Palantir—as CEO and bringing a COO on board. This move represented a deliberate transformation in both governance and organizational approach.
Capital infusion and growth
In 2017, Addepar raised $140 million from Valor Equity Partners, which accelerated its expansion and bolstered its presence within the financial sector. That same year, it forged a collaboration with Morgan Stanley to deliver wealth management software that consolidates and customizes reporting for affluent clients, enhancing its foothold in the industry.
Also in May 2017, Addepar acquired AltX, a machine learning platform specializing in alternative investments, thereby broadening its offerings and competitive positioning. By 2019, the company introduced a mobile application designed for portfolio management, facilitating improved accessibility and client interaction across its worldwide operations.
Open API
September 2016 saw Salesforce.com partner with Addepar to incorporate its Wave Financial Services Cloud, providing financial advisors with seamless asset visualization across different classes. The subsequent month, Addepar launched its Open API, enabling programmatic access to its data and computational capabilities through integration with external platforms and systems. This development enhanced interoperability and expanded the company’s ecosystem.