Pico adds Intel Capital as investor and completes $135 million investment round

Technology services provider for the global financial markets community Pico, announced it recently closed on a strategic investment with Intel Capital, Intel Corporation’s global investment organization.  This new investment completes Pico’s $135M Series C investment round that will be used to further fuel Pico’s global growth and expansion plans.

Jarrod Yuster, Pico Chairman, Founder and Co-CEO commented:

Jarrod Yuster, Pico

Jarrod Yuster
Source: LinkedIn

We are honored and proud to have Intel Capital join as an investor and to reach this important funding milestone which is supporting our ongoing growth and global expansion. The strengthening of our balance sheet will continue to allow us to realize our differentiating strategy of investing in building the most globally comprehensive, robust, scalable and high-performance infrastructure in the financial services industry that meets clients current and future needs.

Over the past 24 months Pico has made improvements and investments in strengthening its platform and global reach which give clients a competitive edge in this unprecedented time with extreme volatility, peak message rates and exponential network traffic growth. The investments include increased capacity, resiliency and diversity of PicoNetTM, its global financial services network. In addition to introducing 100 Gigabit per second native bandwidth access underpinned by a pure optical backbone network, Corvil Analytics, Pico’s real-time and machine intelligence solution, is now enabled for 100Gb networks to monitor new higher throughput environments.  The continued investments will also allow Pico to support its platform with automation tools for quicker and deterministic delivery with accuracy and oversight.

Joining Intel Capital’s list of portfolio companies further improves Pico’s growth trajectory with opportunities to build on its deep technology heritage to advance the capabilities that create new and differentiated value propositions for clients.


Yuster continued:

Intel is a performance leader, and we are excited to have them as an investor in the next phase of our evolution.  We are looking forward to benefitting from their vast technology experience to accelerate AI, big data and analytics-based innovation that will deliver a performance advantage to our clients.

The Intel Xeon processor has been at the core of Corvil Analytics’ performance and capabilities for more than fifteen years.  Pico recently introduced Intel’s 2nd Gen Xeon Scalable platform with built-in AI acceleration in its fifth-generation analytics appliance family, providing new benchmarks in performance and price improvement to its clients. With this latest funding round, Pico and Intel will team up to deliver a 100Gbps network data capture and real-time streaming analytics platform for Financial Markets trading.  Early-stage development is also underway around building a financial services lab, where Pico and Intel can work with top clients to work on new concepts around AI processing, Machine Learning, Network and Trade Analytics and Cloud Monitoring.

Andy Fligel, Senior Managing Director, at Intel Capital said:

Andy Fligel, Intel Capital

Andy Fligel
Source: LinkedIn

Fintech’s impact on capital markets continues to grow and those who successfully tap technological innovations can transform their competitiveness. Pico’s track record of innovation and strategic roadmap with Intel technology at its foundation should deliver low-latency high throughput process automation, machine learning and advanced analytics for the financial services industry.  We look forward to playing an active role in their success.

Also joining the round are strategic partner EDBI, a global Asian-based investor as announced previously, and new investor CreditEase Fintech Investment Fund. Other key strategic investors and Pico clients are Goldman Sachs, J.P. Morgan, Wells Fargo, UBS, Nomura, DRW Venture Capital, Chicago Trading Company, Capital Markets Trading and Simplex Investments.

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