Digital workflow and automation company Trizic has closed a $10m Series A venture round led by Sorenson Ventures.
Participation to the round also came from financial technology developer FIS and Bancorp Bank founder and former CEO Betsy Cohen. Existing investors Freestyle Capital, Broadhaven Capital Partners, PEAK6, and Commerce Ventures, also contributed to the Series.
California-based Trizic develops digital investment technology for wire houses, brokerages, asset managers, banks, credit unions, and Registered Investment Advisors. The end-to-end digital wealth solutions accommodates ETFs, mutual funds and equities.
Through the platform, clients can create a flexible model-based trading portfolio and access automatic tax optimised portfolio management tools. Other offerings from Trizic include intelligent cash management, online client billing, automated trading and rebalancing, compliance reporting, user onboarding, money transfers and simple document access.
The investment comes while the company is expanding its offerings, supplying its technology to RIAs, Asset Managers, Broker Dealers, Banks, and Credit Unions.
Trizic CEO Drew Sievers said, “For the past year, we’ve focused on successfully deploying solutions for our clients, and advancing the underlying technology and connections into, and out of, the Trizic platform.
“With a strong sales pipeline and many conversions across all three of our target verticals, now was the perfect time to bring in some incremental capital, and expand our deployment and sales organizations.â€
Last year, Sorenson took part in the $6m growth investment to ePesos, a Mexican mobile payments startup. The firm made a commitment alongside Santander InnoVentures, which served as lead backer, VilCap Investments, Finlab, and Pomona Impact.
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