Xignite is a technology company.
Xignite has raised $32.0M across 2 funding rounds.
Xignite has raised $32.0M in total across 2 funding rounds.
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Xignite rides the wave of cloud adoption in financial services, disrupting outdated on-premise data systems amid digital transformation and fintech proliferation.[1][4] Its early AWS pivot timed perfectly with surging demand for API-driven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 Moderne Ventures.
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 |
|---|---|---|---|
| Feb 1, 2016 | $21.0M Series C | Moderne Ventures | |
| Sep 1, 2011 | $11.0M Series B | Moderne Ventures |