CorrectNet
Information delivery and client reporting solutions for investment managers.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor investor | €0.0 | round | |
| investor investor investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
N/A | Series A | ||
| Total Funding | 000k | ||
CorrectNet, founded in 1997 by Robert Miller, was a provider of information delivery and client reporting solutions for the investment management industry. The company served clients such as hedge funds, funds of funds, fund administrators, prime brokers, and wealth advisory firms by facilitating and managing data delivery through web reporting applications. Its primary offerings included the infiPOINT platform, which was used for client reporting services for asset management firms, and Advisor WebTools, a web portal and reporting service for wealth advisors. The core of its business was providing the infrastructure, operations, and personnel to manage the aggregation, enrichment, and quality assurance of complex investment data, which was then delivered through reporting web portals to investors, portfolio managers, and executives.
The company's business model focused on providing a managed service, or Reporting-as-a-Service (RaaS), in a hosted environment. CorrectNet experienced significant growth, and by 2010, it announced a 100% increase in sales growth and expanded its global data center presence to locations including New York, Boston, London, and Luxembourg. The company's investors included Edison Partners, NewSpring Capital, TL Ventures, and The Charles Schwab Corporation.
In May 2011, CorrectNet was acquired by Netik LLC, a global financial information management provider and a portfolio company of Symphony Technology Group (STG). The acquisition was a strategic move to combine Netik's focus on information creation and management with CorrectNet's expertise in information delivery and distribution, creating an end-to-end service chain. Following this acquisition, Robert Miller continued to lead the CorrectNet business as its President. Subsequently, CorrectNet was acquired by CoreOne Technologies on November 27, 2012.
Keywords: client reporting, investment management, data delivery, financial reporting, asset management, web portal solutions, infiPOINT, Advisor WebTools, hedge fund services, information distribution, RaaS, data aggregation, wealth advisory, financial data, portfolio management reporting, prime brokerage services, fund administration, fintech, client communications, data management