Originally published on The Bond Buyer.
By Jessica Lerner, Markets Reporter at Bond Buyer
IMTC, a provider of fixed-income investment management technology, secured its first external funding round, led by venture capital company Nyca Partners, allowing the previously privately funded firm to scale software development and client success teams.
This round of funding will help IMTC expand its software engineering resources, allowing it to improve its optimization engine and expand its list of industry and data connections, the firm said. IMTC said it is focused on developing solutions that enable efficiency in managing separately managed accounts (SMAs).
“We’re looking to triple our development team and bring on resources that will allow us to scale and capture the opportunity we see in the market,” said Russell Feldman, IMTC’s new chief executive officer. “Fixed-income technology has been neglected for so long, having the funding and the investment partners to work with to modernize this market is super exciting.”