The platform aggregates data from over 350 custodial institutions across 45 countries, ingesting positions and transactions daily from more than 7 million accounts, allowing wealth managers to track standard financial products alongside alternative assets. In June 2024, Addepar announced it was developing a proprietary large language model (LLM) called Addison, designed specifically for the wealth management domain, trained on over 15 years of internal data and client service experience to support highly contextualized use cases within Addepar's platform. The company added more AUM in 2024 than any previous year, including through major partnerships like Itaú Private Bank in Brazil bringing $180B in AUM.
Addepar has raised $759M in funding with a current valuation of $3.25B. The company serves approximately 1,200 client firms as of 2024, with average revenue per customer rising to $229,000, reflecting its focus on enterprise clients and family offices. The platform already tracks over 250,000 unique positions in alternative investments, with approximately 40% of customer assets in alternatives. Strategic positioning in high-value market segment with strong growth momentum, though premium pricing limits addressable market.
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