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§ Private Profile · 1825 South Grant Street, San Mateo, California, USA
Xignite is a technology company.
Xignite delivers cloud-based market data solutions, offering financial Data-as-a-Service (DaaS) through a comprehensive API platform. This unifies data consumption and management, providing scalable access to real-time and reference data. Its offerings encompass a wide range of financial instruments, including stock quotes, foreign exchange, and company fundamentals, all delivered via robust cloud infrastructure.
Stephane Dubois founded Xignite in 2000 after experiencing limitations with legacy data vendors during a wealth management platform project. This spurred him to develop proprietary market data APIs. Recognizing a broader industry need, the company pivoted to deliver accessible market data from the Amazon Web Services cloud, pioneering its Data-as-a-Service solution in 2006.
Financial institutions leverage Xignite to optimize market data infrastructure. The company aims to empower finance by simplifying data access. Xignite envisions a future where institutions migrate from legacy on-premise systems to cloud-based applications. Its platform enables the creation of innovative, client-centric products and services, freeing them from outdated technology constraints.
Xignite has raised $32.0M across 2 funding rounds.
Xignite has raised $32.0M in total across 2 funding rounds.
Xignite has raised $32.0M across 2 funding rounds. Most recently, it raised $21.0M Series C in February 2016.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 1, 2016 | $21M Series C | Atsuyuki Nakajima | Moderne Ventures, Altos Ventures, Startup Capital Ventures, StarVest Partners | Announced |
| Sep 1, 2011 | $11M Series B | Deborah Farrington | Moderne Ventures | Announced |
Xignite is a cloud-native fintech company specializing in market data solutions, delivering real-time, historical, and reference financial data via APIs to over 700-800 financial services and fintech customers, including BlackRock, Robinhood, SoFi, and Betterment.[2][4][5] It offers two core services: Data-as-a-Service (DaaS) for direct access to its datasets and Market Data Management-as-a-Service (MDMaaS) for firms to integrate and manage their own data feeds, handling up to 12 billion API calls daily across 250+ data sources.[2][4] This solves the problem of complex, legacy market data integration by providing scalable, cloud-based APIs that enable faster app development and cost savings, with strong growth evidenced by its migration to high-performance databases like YugabyteDB for 50% cost reductions and seamless scaling.[2][3]
Xignite was founded in 2006 by CEO Stephane Dubois in San Mateo, California, initially as an attempt to build a wealth management platform.[3][4] Hampered by restrictive legacy data vendors, Dubois pivoted to create accessible market data APIs hosted on AWS public cloud, delivering the industry's first financial DaaS solution that year.[4] This shift ignited demand from other firms facing similar integration challenges, evolving Xignite into a leader in cloud market data distribution; it raised $37.26M before being acquired by QUODD in February 2023.[1][3][4]
Xignite rides the wave of cloud adoption in financial services, disrupting outdated on-premise data systems amid digital transformation and fintech proliferation.[1][4] Its early AWS pivot timed perfectly with surging demand for API-driven data in apps, enabling firms to bypass vendor lock-in and accelerate time-to-market for products like robo-advisors and trading platforms.[4][5] Market forces like exploding API usage (from 6-12 billion daily requests) and regulatory needs for real-time data favor its scalable model, while it influences the ecosystem by powering innovators and serving as an acquisition target for legacy players seeking tech upgrades.[1][2][3]
Post-2023 acquisition by QUODD, Xignite is poised to expand its Market Data Cloud, leveraging AI-driven analytics and further dataset growth to handle escalating demands from decentralized finance and real-time trading.[2][3][7] Trends like multi-cloud hybrid setups and blockchain data bridges will shape its path, potentially amplifying influence through deeper integrations with oracles and global exchanges.[3][4] As the original igniter of cloud financial data, it remains primed to empower finance's next evolution.
Xignite has raised $32.0M in total across 2 funding rounds.
Xignite's investors include Atsuyuki Nakajima, Moderne Ventures, Altos Ventures, Startup Capital Ventures, StarVest Partners, Deborah Farrington.