Addepar, the data platform for wealth, investment, and asset management, announced the acquisition of Arcus, an enterprise AI workflow platform. Terms of the transaction were not disclosed. “Addepar has consistently invested in integrating the latest technology directly into our platform and products, empowering both our internal teams and our clients to be more productive and to make more informed decisions,” remarked Eric Poirier, CEO of Addepar. “As the AI landscape continues its rapid transformation, Addepar is committed to staying at the forefront of advanced technology, and extending these capabilities to our clients.”
Addepar has consistently invested in integrating the latest technology directly into our platform and products, empowering both our internal teams and our clients to be more productive and to make more informed decisions. As the AI landscape continues its rapid transformation, Addepar is committed to staying at the forefront of advanced technology, and extending these capabilities to our clients. – Eric Poirier
Founded by Arda Sahiner and Kunal Gosar in 2022, Arcus had raised a total of $4.75M in equity funding and is backed by investors that include Tola Capital, Flex Capital, Firestreak Ventures, and Ovtr. Arcus developed an enterprise AI platform that enables businesses to build complex, data-intensive AI workflows that can understand and reason over multi-modal, unstructured data. The strategic acquisition accelerates Addepar’s technology roadmap to embed sophisticated artificial intelligence (AI) and machine learning (ML) more deeply across its platform, unlocking additional capabilities like intelligent data management, anomaly detection, streamlined reconciliation, and predictive insights.
“We have fundamentally focused on building a platform that is flexible, interoperable, and future-ready,” remarked Bob Pisani, Chief Technology Officer at Addepar. “Our architecture facilitates seamless integration with clients’ existing tools, minimizing disruption and maximizing long-term value. The acquisition of Arcus is a leap forward in our AI strategy, embedding adaptive intelligence into the platform.”
We have fundamentally focused on building a platform that is flexible, interoperable, and future-ready. Our architecture facilitates seamless integration with clients’ existing tools, minimizing disruption and maximizing long-term value. The acquisition of Arcus is a leap forward in our AI strategy, embedding adaptive intelligence into the platform. – Bob Pisani
