We’re so thrilled to announce the successful close of our oversubscribed $1.2 million seed funding round!
The funding will be used to operationalize and streamline our platform, to invest in the continued growth of our proprietary data set, and to make a few key hires that will help us develop the best possible product.
Additionally, we’re pleased to announce that Paul R. Wood (retired partner at Madison Dearborn Partners), Fred Hatfield (Chairman of the Board, ICE Futures U.S., and former CFTC Commissioner), and Jim Gray (Current CEO of proprietary trading company G-Bar LP and founder/former CEO of OptionsXpress, acquired by Charles Schwab in 2011) will be joining the Board of Directors alongside CEO Brian Clark and COO Aaron Droba.
“What excites me about Ascent is how they’re using technology to shape the future of the derivatives industry by bringing simplicity and efficiency to the compliance process,” said Hatfield. “Regulators have adopted a ‘broken window’ policy for reporting and compliance requirements for every market participant. Ascent offers a cost-efficient solution that can alert users to problem areas that cost firms both financial and reputational harm.”
We’ve also recently signed a licensing agreement with another registered self-regulatory organization (“SRO”) that permits us to centralize their current sets of rules and documents on our platform–simplifying the processes and procedures required for their customers to comply with applicable regulations.
It’s a privilege to gain the experience and insight of Paul, Fred, and Jim as we continue to execute on our strategic vision for Ascent. We know our platform can dramatically simplify compliance processes for firms, and we’re eager to build upon this momentum to continue constructing the most comprehensive solution possible for our clients.