Partech invests USD 2 million in support of NovaSparks No Latency TM technology
Paris, London – 16th June 2010 – NovaSparks SA the ‘No LatencyTM’ specialists in data packet processing solutions today announced it has secured Series A financing of USD 2 million from Partech, a leader in international venture capital. Partech invests in technology and internet firms, major successes include Business Objects, DailyMotion, Informatica and Digitick. Jean-Marc Patouillaud, partner at Partech, joined the NovaSparks Board of Directors earlier this year.
NovaSparks is the only company to offer sub-microsecond latency. Its disruptive technology is designed to dramatically reduce the latency involved in market data ticker plant and packet distribution. NovaSparks innovative approach measurably increases processing speeds for the latency-sensitive high frequency traders of investment banks, hedge funds and proprietary trading firms.
NovaSparks’s sub-microsecond solutions are built exclusively on Field-Programmable Gate Array (FPGA) without any CPU processing. This unique approach offers sub-microsecond latency for market data feed handling, order book processing, index computation and delivery of data direct to the core black boxes of algorithmic trading firms.
NovaSparks’ No LatencyTM market data ticker plant offers a proven, consistent and high performance solution, immune to market bursts of traffic and volume. The firm’s Packet Dispatcher transfers market data and other critical data between data sources and applications at sub-microsecond speeds. Designed to be fully flexible, one of its applications will be to connect an Algorithmic trading hardware environment to the ‘No LatencyTM’ market data ticker plant, enabling easy customisation to suit the client firm’s unique requirements. Partnering with low latency connectivity specialists, NovaSparks offers a carrier neutral choice enabling collocation services, performance measurement and monitoring, resilient and secure end-to-end managed services and global access. This collaborative approach offers clients choice, flexibility and a unique approach to low latency performance.
Partech’s investment highlights the significant business opportunities that ultra-low latency solutions provide to critical applications in finance and telecom. Analysts' consensus is that ultra-low latency requirements will grow and spread within different parts of the information system, also critical for data centre interconnections.
“We are very excited to be involved with NovaSparks at a time when the demand for its Market Data Ticker Plant continues to grow,” said Jean-Marc Patouillaud. “We have every confidence that NovaSparks end-to-end ultra-low latency solutions today and future innovations will be successful. Our investment is aimed at accelerating the product development pace and strengthening the commercial development, especially in the US”.
NovaSparks' management team is led by CEO Eric Le Rolland, who brings 25 years of experience as an engineer in banking, information systems and finance. He co-founded the company with Chief Technology Officer, Marc Battyani. Marc’s background encompasses a wealth of experience from electronics design to compilers.
“We are very pleased with the market recognition and adoption of our products and technology,” said Eric Le Rolland. "The investment and assistance of Partech will enable us to accelerate our global commercial development plans”.
“One of the keys to NovaSparks' success lies in our platform approach combining hardware, software but also Domain Specific Language compilers” said Marc Battyani, Chief Technology Officer. “This approach is the basis of the disruptive performance of our solutions.”
Ends
Press contacts for NovaSparks:
Julia Streets / Holly Finn
Streets Consulting Ltd
Tel: + 44 20 7959 2235
Julia.streets@streetsconsulting.com / holly.finn@streetsconsulting.com
Press contact for Partech:
Aurélie Bugeat
Partech
Tel : +33 1 53 65 65 53
abugeat@partechventure.com
About NovaSparks
NovaSparks is the ‘No LatencyTM’ specialist in data packet processing solutions. Its disruptive technology is designed to eliminate processing latency to sub-microsecond speeds to help the high frequency traders of investment banks, hedge funds and proprietary trading firms achieve smart order routing even faster and benefit from the arbitrage opportunities available.
NovaSparks core offering includes:
- NovaSparks’ “No LatencyTM market data ticker plant” offering sub-microsecond latency for market data feed handling, order book processing, index computation and delivery of data direct to the core black boxes of algorithmic trading firms. Delivered through unicast, multicast, one or 10 Gb and PCI-Express, the ‘No LatencyTM’ market data ticker plant offers a proven, consistent and high performance solution, immune to market bursts of traffic and volume.
- NovaSparks’ “No LatencyTM Packet Dispatcher” transferring market data between data sources and application servers at sub-microsecond speed. Packet dispatcher is a ‘full featured solution’ delivering a flexible approach to connectivity and integration. One of its applications will be to connect an Algorithmic trading hardware environment to the ‘No LatencyTM’ market data ticker plant, enabling easy customisation to suit the client firm’s unique requirements.
- End-to-End low latency distribution solutions. NovaSparks partners with low latency connectivity specialists to offer a carrier neutral choice enabling collocation services, performance measurement and monitoring, resilient and secure end-to-end managed services and global access. This collaborative approach offers clients choice, flexibility and a unique approach to low latency performance.
Founded in 2007 by Marc Battyani (CTO and Head of R&D) and Eric Le Rolland (CEO), NovaSparks was launched as HPC Platform and rebranded in June 2010.
For further information, visit: www.novasparks.com
About Partech
Partech focuses on high-growth opportunities in internet and information technology. Specific areas of investment include e-commerce, digital media, software, cleantech and components. In each of these areas, we look for companies with a disruptive approach and clear leadership potential.
Partech is one of the most established management teams in the European venture capital arena but also one that has the most experience in growing young companies internationally. It is also a team that has successfully implemented a long-term strategy, over multiple funds.
Our global way of thinking has been successfully applied for nearly 30 years. Many of our 100+ portfolio IPO and M&A exits include global companies and transatlantic success stories: Alvarion (ALVR), Apsylog (PRGN), Akimbi Systems (VMW), Ascend Communications (ASND), Business Objects (BOBJ), Cadence Design (CDNS), Cartesis (SAP), Digital Island (ISLD), Fluxus (BT), Informatica (INFA), ISDnet (CW), Jungo (NNDS), Meiosys (IBM), Pentasafe (NTIQ), Q-layer (JAVA), Quinstreet (QNST), Verifone (PAY), Vignette (VIGN), and Visicu (EICU).
For further information, visit: www.partechventure.com