# Pico Quantitative Trading

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pico-quantitative-trading

- Industry: Financial Services
- Headquarters: New York, US
- Website: www.pico.net/
- Total disclosed funding: $135M
- Latest round: Series C (Dec 8, 2020)
- Investors on record: 12

## About

Pico Quantitative Trading LLC is a US-based firm specializing in technology solutions for the financial markets, enhancing trading performance through advanced analytics and real-time data services.Pico Quantitative Trading LLC is dedicated to providing technology solutions tailored for financial markets. Founded in 2009 in New York, US, the company has completed a total of 4 deals, with its most recent deal occurring on July 14, 2022. Pico raised USD 200 mn in GROWTH funding from Golden Gate Capital, bringing the total amount raised to USD 200 mn. The company's founders include Brian Hsu, Jarrod Yuster, and Phoebe Hunter-Mcilveen, while Charlie Park and Francis Troise currently serve as CEO and leadership members.Pico is a leading provider of technology solutions tailored for the financial markets, offering a comprehensive suite of products and services designed to enhance trading performance and operational efficiency. Core offerings include advanced analytics, trading applications, and market data solutions that facilitate high-speed trading and real-time network monitoring. Notable products such as Corvil Analytics and the RedlineFeed Order Execution Gateway empower clients with actionable insights and streamlined order processing, addressing critical use cases in trading and risk management. Pico’s client base comprises a variety of sophisticated financial institutions, including global banks, quantitative hedge funds, and electronic market makers, predominantly serving key financial hubs in North America, Europe, and Asia-Pacific regions.Pico generates revenue through a multifaceted business model primarily centered on subscription-based services and partnerships with its clients. Typical transactions involve clients subscribing to their analytics and trading applications, which may include flagship products like Corvil Analytics and RedlineFeed, enabling them to leverage high-performance data and analytics for mission-critical applications. The revenue structure encompasses a combination of recurring fees for software licenses and additional charges for managed services, which provide ongoing technical support and system enhancements. By catering specifically to the needs of financial institutions, Pico facilitates essential transactions that drive its revenue stream, ensuring clients have access to technology that meets the dynamic demands of the financial markets.In July 2022, Pico Quantitative Trading LLC raised USD 200 mn in GROWTH capital funding from Golden Gate Capital, aimed at pursuing strategic M&A opportunities that enhance Pico’s comprehensive global ecosystem of best-in-class technology and services. The company is focusing on expanding its product offerings and is looking to enter new geographic markets to strengthen its presence in financial hubs. Specific regions targeted for expansion are not detailed, but the recent funding will support both product development and corporate initiatives.

## Funding rounds

- Series C, Dec 8, 2020, $135M — UBS, Intel Capital, Wells Fargo Bank, SG Growth Capital, JP Morgan Asset Management, Goldman Sachs Asset Management, DRW Venture Capital, CMT Capital Markets Trading, VANTEC Angel Network, Nomura Funds Ireland, Simplex Investments, CTC Venture Capital

## Investors

- UBS — Series C
- Intel Capital (https://capitalatlas.ai/funds/intel-capital) — Series C
- Wells Fargo Bank — Series C
- SG Growth Capital (https://capitalatlas.ai/funds/sg-growth-capital) — Series C
- JP Morgan Asset Management (https://capitalatlas.ai/funds/jp-morgan-asset-management) — Series C
- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series C
- DRW Venture Capital (https://capitalatlas.ai/funds/drw-venture-capital) — Series C
- CMT Capital Markets Trading (https://capitalatlas.ai/funds/cmt-capital-markets-trading) — Series C
- VANTEC Angel Network — Series C
- Nomura Funds Ireland (https://capitalatlas.ai/funds/nomura-funds-ireland) — Series C
- Simplex Investments (https://capitalatlas.ai/funds/simplex-investments) — Series C
- CTC Venture Capital (https://capitalatlas.ai/funds/ctc-venture-capital) — Series C