US financial services provider Mediant Communications Inc., becomes the latest investor to join the Proxymity Consortium, following recent BNP Paribas announcement in March 2022
Proxymity, the leading digital investor communications platform, announced that Mediant Communications Inc. has invested in its latest Series B fundraising, closing the round at $52 million. Mediant is a leading investor communications provider in the United States, and the tenth strategic investor to join the consortium backing Proxymity.
Original consortium members Citi Ventures and Deutsche Börse Group have also participated in the latest closing, and with Mediant are collectively investing a total of $15m, further underscoring confidence in Proxymity’s vision for investor communications.
- New investment by Mediant Communications Inc., Citi Ventures, and Deutsche Börse Group, announced brings the Series B round to $52 million
- Original Consortium Investors BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, J.P. Morgan, and State Street participated in current round in December 2021
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The investment by Mediant further broadens the diversity of Proxymity’s Consortium, with the North American company set to strategically support the company’s growth plans in the region.
Arthur Rosenzweig, CEO of Mediant, stated: “We are pleased to support Proxymity and their transformative platform for global proxy voting and disclosure, as they work to bring the benefits of digital investor communications to the industry as a whole.”
Proxymity’s Co-Founder and COO Jonathan Smalley commented: “We are excited to welcome Mediant to Proxymity’s distinguished group of investors. In addition to the strength of having seven of the top ten global custodians within the consortium, managing over $200 trillion in assets under custody, we now welcome a new member who will contribute further to our plans to extend our reach in North America and worldwide.”
The additional investment by Citi Ventures and Deutsche Börse announced today marks the third time both have invested in Proxymity. Luis Valdich, Managing Director, Citi Ventures, said: “Citi has been part of the Proxymity story from the beginning, and we are delighted to be part of the company’s next stage of growth. The consortium’s continued support for the Proxymity vision signifies the value that the platform is bringing to the whole ecosystem.”
Proxymity’s initial Series B fundraising of $31 million was announced in December 2021, to expand its product and market footprint. The investment round was extended to enable BNP Paribas Securities Services and Mediant to join as new investors to the consortium, with Citi and Deutsche Börse now increasing their investments.
Samuel Riley, Head of Clearstream Investor Services & Financing, Deutsche Börse Group, added: “Deutsche Börse fully shares Proxymity’s vision of transparent and efficient investor communication. The ongoing transformation of our industry, characterised by developments in tech and regulation, together with the rising need for digital solutions, have created the ideal momentum for change. We are excited to work with Proxymity and to further support them in making this vision a reality.”
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Proxymity’s investor communications platform connects issuers, intermediaries, and investors via a proprietary digital network. Its industry-leading solutions include real-time and fully transparent digital proxy voting and automating shareholder disclosure requests in industry-compliant formats without the need for any manual intervention.
Since its launch in April 2020, Proxymity has provided digital access to over 12,000 meetings in over 25 markets worldwide. The platform was first launched in the UK in 2018, following a collaborative pilot partnership with Computershare, and the company was spun out by Citi in April 2020. Co-founders Dean Little and Jonathan Smalley now lead a successful business serving investor markets worldwide, with a team of over 100 employees.
In addition to its London, UK-based HQ, and customer hubs in both Manchester, UK, and Melbourne, Australia, Proxymity will continue to maintain its technology and R&D team in Tel Aviv, Israel.
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