Addepar has acquired Arcus (arcus.co), an enterprise AI workflow company, to strengthen its platform with smarter features like smarter data management, anomaly detection, automated reconciliation, and predictive insights. Arcus’s platform enhances automation across analytics, reporting, trading and billing, etc. As part of the acquisition, Arcus CEO and co-founder Kunal Gosar joins Addepar as Head of AI Platform, along with his founding team.
In parallel, HSBC UK — one of the country’s major banks — has adopted Addepar’s platform to enhance its client reporting. These updates follow the close of a $230 million Series G round, valuing the company at $3.25 billion. The round, originally reported in January, was co-led by Vitruvian Partners and WestCap, with participation from 8VC and other existing and new investors. This investment aims to provide liquidity for employees and early investors, while also supporting the company’s ongoing product development and expansion efforts.