Connectifi – an application interoperability company – announced it has closed Seed funding to bring the open-source FDC3 standard to the cloud. The funding round was led by Blumberg Capital with co-investment from Engineering Capital. And the funding round represents the growing demand for interoperability that goes beyond the desktop and interest by venture capital firms in what was once niche capital markets tech.
In the past 5 years, momentum around app interoperability has grown exponentially in finance with the wide adoption of the open-source FDC3 standard by leading banks, buy sides, and vendors. Co-founded by the creator of FDC3 and technology veterans in finance, Connectifi offers FDC3-compliant application interoperability as a secure cloud service so that users can share data and functionality across applications regardless of the technology or device they are running on. Plus Connectifi works out of the box in browsers without installationation, across desktop containers, in native applications, and in mobile, removing barriers across ecosystems. Connectifi’s data-driven approach empowers platforms to understand the ROI of their integrations and ensure the security and stability of their ecosystem.
Connectifi plans to use the $3.4 million seed funding round to accelerate the development of its cloud-based FDC3 platform and accelerate the growth of the FDC3 ecosystem overall.
KEY QUOTES:
“We couldn’t be more excited to be working with technology-focused firms like Blumberg Capital and Engineering Capital to build this next-generation vision of FDC3 and application interoperability. We see a world where platforms are free to build secure and open ecosystems that transcend walled gardens and deliver far more value to end users.”
— Nick Kolba, CEO and co-founder of Connectifi
“The growth of apps in every industry has created tremendous fragmentation and inefficient workflows. Connectifi is working to revolutionize the interoperability of those apps across a given firm’s tech ecosystem. Nick and Brian’s work with FDC3 is a tremendous advantage in their efforts. The Blumberg Capital team is proud to be part of Connectifi’s journey and to welcome them to our community of visionary founders building the future of enterprise technology.”
— Stanton Green, senior director at Blumberg Capital
“Engineering Capital specializes in companies based on technical insights. I believe the differentiated approach by Connectifi, and the technology they have already developed will be rapidly adopted as enterprises recognize the benefits of FDC3. We know Connectifi had multiple choices and are grateful they chose to partner with us from the very start of their journey.”
— Ashmeet Sidana, founder and chief engineer at Engineering Capital
“I am personally excited to welcome another very promising player in the FDC3 arena. Connectifi is well positioned with Nick’s expertise as the original creator of the standard itself. This comes within the broader trend of Silicon Valley investing in FINOS projects, in the realization that financial services is the next industry ripe for open source disruption.”’
— Gabriele Columbro, executive director of FINOS and general manager of Linux Foundation Europe
