Octavian completes $5 Million First Round of Financing with Gemini Israel Funds and Carmel Ventures
- Created on Wednesday, 01 June 2005 00:00
Herzlia, Israel, June 1, 2005 - Octavian, Inc., provider of innovative middle-office software solutions for the Wealth and Investment Management (WIM) area, announces the closing of a $5 Million first round investment led by Gemini Israel Funds and Carmel Ventures.
Headquartered in New York, NY with a research and development center in Petach-Tiqva, Israel, Octavian produces middleware that enables analytical application development for the lucrative WIM space. Octavian’s Financial Application Server allows rapid development and deployment of WIM applications, helping to streamline operations, increase productivity, and address quickly-changing customer requirements. The first application which the company offers to the market addresses the new area of Separately Managed Accounts.
Headquartered in New York, NY with a research and development center in Petach-Tiqva, Israel, Octavian produces middleware that enables analytical application development for the lucrative WIM space. Octavian’s Financial Application Server allows rapid development and deployment of WIM applications, helping to streamline operations, increase productivity, and address quickly-changing customer requirements. The first application which the company offers to the market addresses the new area of Separately Managed Accounts.
Octavian was founded by an experienced team of entrepreneurs, led by Moshe Barnes, the company’s CEO, who is a veteran of the WIM industry. "We are honored to partner with Carmel Ventures and Gemini Israel Funds, which are not only two of Israel’s leading VC funds, but also have a major standing in the Financial Services industry, and can help us grow and become a successful global player,” said Mr. Barnes. “We are fully committed to delivering innovative solutions that increase productivity and bottom line profits for our customers, with rapid ROI", added Mr. Barnes.
“The WIM area is currently undergoing fundamental changes, due to unprecedented growth as well as to increased complexity in the way business is being done,” said Avi Zeevi, Co-Founder and General Partner, Carmel Ventures. “Institutions are looking for flexible and easy-to-implement solutions, which until now have only been offered as tailored projects. Octavian is working in close cooperation with the IT organizations of some of the world’s leading financial institutions to bring such products to market,” added Mr. Zeevi.
"Octavian has a unique combination of an exceptional and experienced team with innovative technology that addresses some of the most important issues in the growing WIM software space," said Adi Pundak-Mintz, General Partner with Gemini Israel Funds. “We believe that Octavian has the potential to become a category leader in that quickly growing market," added Mr. Pundak-Mintz.
"Octavian has a unique combination of an exceptional and experienced team with innovative technology that addresses some of the most important issues in the growing WIM software space," said Adi Pundak-Mintz, General Partner with Gemini Israel Funds. “We believe that Octavian has the potential to become a category leader in that quickly growing market," added Mr. Pundak-Mintz.
Mr. Zeevi and Mr. Pundak-Mintz have joined Octavian’s Board of Directors.
