Digital investor communications platform Proxymity has raised £23 million in its second round of investment.
Co-founders Dean Little and Jonathan Smalley formulated the idea for Proxymity while working in Citi’s Equities and Securities Services (ESS) custody product group.
The platform was first launched in the UK in 2018, following a collaborative pilot partnership with Computershare, and the company was spun out by Citi in April 2020.
It has now provided digital access to more than 12,000 meetings in 29 markets worldwide and employs more than 100 people.
Proxymity will use the new funds to expand further its product and market footprint.
Original consortium investors BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, J.P. Morgan and State Street have participated in this current round.
“We’re delighted to announce this successful round of fundraising… to fuel our significant global momentum,” said CEO Little.
“We continue to work closely with all our founding consortium members, and together, the Proxymity team is delivering on our vision, changing the industry ecosystem for the better.”
The platform connects issuers, intermediaries and investors. It includes real-time and fully transparent digital proxy voting, shareholder disclosure and automation of shareholder ID requests in industry compliant formats without the need for manual intervention.
In addition to its London HQ and customer hubs in Manchester and Melbourne, Australia, Proxymity will continue to maintain its technology and R&D team in Tel Aviv, Israel.