From the Wires
Lumesis Expands DIVER Platform for Municipal Bond Marketplace
By: Business Wire
Nov. 28, 2012 06:00 AM
Lumesis, a financial services technology company focused on the municipal fixed income marketplace, today announced that it has significantly grown its customer base, its product offerings and its fundamental muni-bond data repository since receiving its Series A financing in February 2012.
Built on cloud-based technology, DIVER is a state-of-the-art, software as a service platform that correlates economic, demographic, and financial and operating datasets directly against individual issuers in the U.S. municipal bond market, down to the county, city, town, and school district levels.
“Through our DIVER muni platform, we now offer visualization tools and analytics for over 220 datasets—an increase of nearly 90% since the beginning of 2012,” said Tim Stevens, co-founder and President at Lumesis. “No other platform in the muni-bond market offers this amount of issuer linked, location-based data. With our enhanced data availability, we have increased our offering to the municipal bond marketplace with data from more than 40 distinct sources which supplement financials that are oftentimes more than six months old by the time they are issued.”
Lumesis has enhanced its flagship DIVER Analytics platform to include a new module that captures granular data for comparative analysis. In addition, Lumesis recently released DIVER Advisor, which brings DIVER’s technology and database to the retail Financial Advisor network. Today, the DIVER platform now includes:
Reflecting the positive growth at Lumesis, the company announced that it has doubled its client base for the second year in a row. DIVER users include analysts and managers from top tier asset managers, banks, investment banks, insurance companies, mutual funds and hedge funds.
Top tier financial institutions rely on DIVER to understand and analyze risks and opportunities across their municipal bond portfolios. The DIVER suite of products is widely applicable to all users in the muni-bond market. DIVER Advisor and DIVER Analytics are both easy to use and scalable to complex analytic needs, allowing a financial advisor, a hedge fund manager and a large scale portfolio manager to benefit from real-time alerts, proprietary visualization technology and content-rich reporting.
NEW TEAM MEMBERS
To accelerate new business growth, Lumesis added Michael Vossler as Managing Director, Business Development. Mike has spent more than 20 years serving in various roles within the software solutions business for capital markets trading, operations, and enterprise risk. He most recently worked as a Senior Vice President at SunGard, overseeing sales and distribution in the Americas for three divisions, including Adaptiv, Front Arena, and Sierra. He also served on the Senior Management team of each group. Prior to his management role, Mike was a top sales executive for SunGard, selling risk and trading solutions to banks, asset managers, broker/dealers, insurance companies, and breaking new ground for the company in the hedge fund and energy sectors.
Lumesis has also named Patti Boyle, former Global Marketing Leader for SEI Investment’s Private Banking unit, to the position of Chief Marketing Officer. Patti’s focus will be on strategic marketing and social media expansion, leveraging industry partnerships and online communities.
In addition, Lumesis added three new board members—Robin Wiessmann, Chairman of the Vantagepoint Funds Mutual Fund, a 40 Act mutual fund company with $13 billion under management and member of the Municipal Securities Rulemaking Board; Phil Moyer, Managing Director, Technology at Safeguard Scientifics (NYSE:SFE), a provider of growth capital to emerging life sciences and technology companies; and Jim Ashton, Managing Partner of JA3Partners, LLC, an executive advisory firm that consults with private equity firms and their portfolio companies on business strategy, operational improvement, sales optimization and M&A.
“With the backdrop of a fragile recovery, global economic malaise, stubborn unemployment, and the debt crisis, investors, analysts and financial advisors need solutions that deliver comprehensive and timely data related to shifting economic and demographic factors. That’s what we’ve built at Lumesis,” said Gregg Bienstock, co-founder and CEO. “As a result of our robust datasets, the DIVER platform has realized tremendous growth and traction this year, on the heels of our capital raise in February. Our client base has doubled for the second year in a row, we offer two stand-alone products and we’ve enhanced our team to support our strategy, sales and marketing efforts. We’re proud of the momentum we’ve built and the solutions we provide the municipal market to help users enhance their efficiency and save time and money.”
About Lumesis, Inc.
Lumesis is a Software-as-a-Service (SaaS), cloud-based financial technology company dedicated to delivering simple to use, powerful technology for the Fixed Income Municipal Marketplace. Lumesis’ software solutions—DIVER Analytics and DIVER Advisor—offer comprehensive data on more than 54,000 issuers within the municipal fixed income market. Through sophisticated analytical tools, real-time alerts, proprietary visualization technology and content-rich reporting, DIVER solutions allow professionals across the municipal market to easily identify portfolio risks and opportunities, improve customer satisfaction, ensure compliance and enable growth. Providing access to more than 220 datasets from more than 40 sources, DIVER solutions leverage the most current economic and demographic data available from both public and private sources. To learn more about Lumesis, please visit www.lumesis.com.
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