Addepar, Inc. is an American

wealth management Wealth management (WM) or wealth management advisory (WMA) is an investment advisory service that provides financial management and wealth advisory services to a wide array of clients ranging from affluent to high-net-worth (HNW) and ultra-high ...

platform for registered investment advisors, specializing in data aggregation, analytics, and portfolio reporting.

Origin

In 2004, Peter Thiel founded

Palantir Technologies Palantir Technologies is a public American software company that specializes in big data analytics. Headquartered in Denver, Colorado, it was founded by Peter Thiel, Nathan Gettings, Joe Lonsdale, Stephen Cohen, and Alex Karp in 2003. The compa ...

along with several others, including Joe Lonsdale. In 2009, Lonsdale stopped working full-time at Palantir to launch Addepar with Jason Mirra, another Palantir employee. In 2012, Addepar expanded its target clients to include registered investment advisers (RIAs) and initiated a sales and marketing effort to attract larger clients. In 2013, Addepar focused on expanding risk analytics and their client portal.

Management transition

In 2013, Addepar hired a head of sales from Advent (Black Diamond). During 2013, Addepar's primary competitors Black Diamond, Tamarac and Orion "pulled away in the battle for RIA market share, with each of the brands adding about 50% to their asset administration totals". In 2013, Addepar sought to transition out of start-up mode, replacing Lonsdale with new CEO Eric Poirier previously of Palantir and hiring a COO to start building out the company's management.

Funding and expansion

In 2017, Addepar received a $140 million round of funding from Valor Equity Partners. The same year, Addepar partnered with

Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...

, providing software that consolidated information and tailored reporting about the assets of high net-worth Morgan Stanley clients. In May 2017, Addepar acquired AltX, a machine learning platform aimed at alternative investments. In 2019, Addepar hired six new executives to the company's team and launched a mobile app for its portfolio management software.

Products and services

Addepar's platform provides analytics and performance analysis of portfolios and market data with software for managing high-net-worth and ultra-high-net-worth clients. Its technology involves a mixture of

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