Derivative analytics platform Opengamma has secured $10m (£7.6m) in funding led by London early stage investor Dawn Capital.

The funding will allow Opengamma, which has doubled the size of its workforce and customer base over the last 12 months, to expand its teams in London, New York and Singapore and launch new products in the collateral and treasury sector.

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Existing investors Accel, CME Ventures and former Sunguard chief executive and angel investor Cristobal Conde also took part in the funding round.

Peter Rippon, chief executive of Opengamma, said: “Regulation has created new opportunities for firms like Opengamma.

“We work with key market infrastructure providers, including CME Group, Eurex, JSCC as well as top tier banks, to ensure we have access to the models needed to solve a key industry problem: the rising cost of trading derivatives.

“We are excited to be working with Dawn Capital, as we can draw on their expertise in B2B fintech to further accelerate our growth.”

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