Technology innovation attributed to growth in customers seeking frictionless programmatic access to streaming and snap data for broad set of asset classes
JERSEY CITY, N.J.–(BUSINESS WIRE)–QUODD, a comprehensive market data on demand provider for the global financial services industry and NewSpring Holdings Platform company, today announced a new record for year-over-year revenue growth and client acquisition for Q1 2022.
Highlights of QUODD’s performance, as of the end of the first quarter 2022, include:
- 133 new clients added in past 15 months
- New sales annual contract value grew by 53% year-over-year in 2021
- From a product perspective, the comprehensiveness of content across all asset classes has expanded from less than 100 data elements to over 500 data elements across pricing, reference data, corporate actions, history, performance, and calendars.
QUODD attributes this growth in large part due to its continued investments in technology and innovation to further elevate and improve its market data platforms and data feeds. Because of these innovations, the company will be rolling out a new, modern vision of its major products and services in the coming weeks.
“With technology costs rising and margins shrinking throughout the financial services industry, we’re seeing incredible demand from institutions of all types for reliable, high-quality, on demand market data that can be customized to meet that particular firm’s workflows across multiple functional areas,” said Bob Ward, CEO of QUODD. “We’re proud to be a reliable market data partner to our growing list of clients, and we will continue to focus on delivering predictability and stability when it comes to data management, governance, and cost containment, so they can focus instead on more pressing challenges and revenue-generating activities that cut across the business lines.
“QUODD successfully migrated to AWS, which not only improved security, compliance, and operational resilience, but allows us to move faster than ever in delivering a comprehensive suite of products powering our institutional customers with ‘data of demand,’ operational efficiencies, and lower costs,” said David Kirk, CTO of QUODD. “We can deliver customized solutions at a faster clip without requiring an institution to co-locate or cross-connect to stream the entire market or customized subset of securities. Content such as real-time options data for trading, risk, research & analytics to device or to servers can be attributed to significant uptake and growth.”
In addition to investments in its technology, QUODD remains committed to growing its employee count significantly in 2022. The company, for example, aims to expand its technology, customer service, and sales & marketing team throughout the year.
About QUODD
QUODD delivers reliable and comprehensive market data on demand to the global financial services industry. QUODD fuels wealth servicing users across banks, broker dealers, insurance companies and fin techs the ability to stream, embed, look up, or download pricing data for global equities, fixed income, indices, options, futures, and end-of-day pricing for global mutual funds spanning. Monitoring more than 150 global exchanges and tracking trillions of transactions with a 99.999% up time, QUODD is the modern market data resource you can trust. Learn more at www.quodd.com.
About NewSpring Holdings
NewSpring Holdings, NewSpring’s dedicated holding company with a strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $2.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.
Contacts
Malea Lydon
quodd@backbaycommunications.com
