![NYC-based Capitolis raises $90M from A16z, plans to hire 60](http://www.builtinnyc.com/sites/www.builtinnyc.com/files/styles/ckeditor_optimize/public/inline-images/shutterstock_573121573.jpg)
Capitolis, an NYC-based startup providing tech support to capital markets players like brokers and banks, announced Tuesday it closed on a $90 million Series C led by Andreessen Horowitz. The round included participation from other heavy hitters like Index Ventures, Sequoia Capital, Citi and J.P. Morgan, bringing the company’s total funding raised to $170 million.
The last time Built In caught up with Capitolis was when it raised its $40 million Series B in 2019. Since then, the company says it has been “rapidly growing its client base,” which includes some of the largest financial institutions in the world.
To keep up, it plans to use this fresh investment to further develop its product, bolster its sales efforts and grow its team. The company has about 90 employees between its offices in NYC, Tel Aviv and London, and plans to hire about 60 more by year’s end.
“We are proud to support Capitolis through this period of rapid growth,” Alex Rampell, a partner at Andreessen Horowitz, said in a statement. “What sets Capitolis apart from other financial services players is the sheer scale of management’s ambition and the substantial talent, technology and capital milestones they have achieved in bringing their innovative services to market.”
Capitolis was founded in 2017 by former Thomson Reuters CEO Tom Glocer and former NEX Markets CEO Gil Mandelzis. Mandelzis says the company was created to “fundamentally re-imagine how the capital markets operate,” providing a workflow technology that helps financial institutions optimize their balance sheets and reduce risk. The point is to help banks free up capital, open credit lines and get access to capital from a larger pool of sources.
“Just as Airbnb has brought more capacity to the lodging industry, Capitolis is bringing meaningful additional balance sheet, capital and financing capacity to the market that is structurally and meaningfully constrained to create healthier, more vibrant and growing financial markets,” CEO Mandelzis said in a statement. “The market’s acceptance and adoption of our friendly and disruptive solutions have exceeded our brightest hopes, and we are thrilled to have this significant investment and support from the world’s top technology investors and leading financial institutions to grow and expand much faster.”