Kpler Holding SA, a provider of data and analytics to commodity traders, said it will receive about $200m in private equity funding for its continued expansion.
The investment is led by Five Arrows and Insight Partners, and represents a minority stake in the company, Kpler said in a statement.
The data firm has been growing aggressively in recent months, purchasing rival ClipperData LLC and consultant JBC Energy GmbH. Kpler said it is considering more acquisitions and intends to hire more than 100 people in the coming months.
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“We are confident we have found the best sponsors to accelerate our development now and in the long run,” Chief Executive Officer Francois Cazor said in the statement.
Kpler said it has doubled its annual recurring revenue in the last 18 months, which is now above $40m per year. The company aims for it to reach $300m in the next few years.
Bloomberg LP, the parent of Bloomberg News, is a competitor with Kpler in providing financial analytics and information.
Source: Financial Post
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