OneChronos Secures $40 Million in Series B Funding
OneChronos, a technology firm, specializes in harnessing auction theory and artificial intelligence to enhance financial market performance. It has successfully concluded its Series B investment round, securing a substantial $40 million in funding, in addition to leading the investment charge.
OneChronos has earned renown for its Smart Market periodic auctions, which cater to the strict demands of electronic capital markets. Commencing with U.S. equities, these auctions place paramount importance on “best execution,” prioritizing competition rooted in transaction quality. Since Q3 2022, OneChronos has handled $60B in institutional securities transactions, with monthly volumes up by over 35%.
The company’s exceptional execution performance contributes to this remarkable growth. OneChronos’ extensive network, comprising over 45 banks, brokers, and dealers, meticulously assesses it. Moreover, this network faithfully serves numerous asset managers in addressing their electronic trading requirements.
The freshly secured funds will bolster OneChronos in its endeavor to diversify into unexplored markets. It will also enable the introduction of innovative products that allow for additional strategy-level constraints within auctions. This strategic expansion will uncover previously uncharted trading possibilities within traditional auction and market formats. It will ultimately elevate the execution quality of trading algorithms and workflows.
Smart Markets have already witnessed success in various industries, yet their application in capital markets necessitates unparalleled speed, scalability, and resilience. The primary technical hurdle lies in conducting these auctions within a matter of milliseconds, necessitating expertise spanning computer engineering, artificial intelligence, machine learning, mechanism design, and operations research.
Kelly Littlepage, CEO and Founder of OneChronos emphasizes the mission of modernizing capital markets and optimizing investment objectives.
