Boston, MA (PRWEB) January 25, 2012
Code Red, Inc., the leading technology provider of investment Research Management Systems (RMS), completed another record year by increasing its revenues 59% and added 35% more clients over 2011. The record year was capped off with the signing of a large asset manager for 100 users.
ANOTHER RECORD YEAR
In spite of significant market volatility during the third and early fourth quarters, Code Red still had a record growth year by increasing revenues close to 60% over 2010. The company started 2011 with only two offices in Boston and New York, but went global by opening offices for implementation and support in London and Hong Kong.
Code Red signed clients to its industry leading Red Alerts RMS™ across a variety of asset classes and sizes. These include startup hedge funds through top tier funds, foundations, family offices, top university endowments, and several large mutual funds for both fixed income and public equity. The firm expanded geographically as well by signing new clients, and adding new employees in both Europe and Asia.
The company capped off the year by signing of a large asset manager with 100 users across multiple investment groups, and will use the RMS as a central repository for all of its research, as well as a platform for managing all the groups’ unique investment processes.
“We saw the momentum from 2010 continue into 2011with significant growth in all aspects of the company,” said Code Red CEO Tim Gavin. “Our new clients in 2011 were looking for a robust, flexible, and open system in which to store their proprietary research alongside their internal and external data, and were searching for a platform that could systemize their exclusive and individual investment process. Our clients found that Red Alerts was uniquely able to handle all of these complex requirements where out of the box solutions were inadequate. We were also excited to offer our growing client set in Europe and Asia with local support during the course of the year.”
Code Red has already signed several new firms to the Red Alerts RMS in 2012, including a top university endowment and a top ten US foundation.
ABOUT CODE RED, INC
Code Red provides research management technologies to the investment management community. The Code Red Research Management Workspace™ includes its flagship product Red Alerts RMS™, a Research Management System; IdeaNet™, a platform for the distribution of research, ideas and meetings; and Open RMS™, a research and data integration service. Code Red’s workspace lets portfolio managers and analysts easily manage research, control the flood of information, and integrate third-party data. It organizes and automates the investment management process, facilitates rating and ranking of information sources, and speeds navigation of investment research and the discovery of new ideas. Code Red’s products are implemented at Hedge Funds, Mutual Funds, Fund of Funds, Endowments, and Private Equity firms. For more information, contact Jaime Bean at (212) 867 6364 or visit our website at http://www.coderedinc.com.