SenaHill Portfolio Company, Trumid, Hits Unicorn Status
SenaHill Partners, LP (“SenaHill”) is pleased to congratulate Trumid, a company that SenaHill backed in 2014, on achieving unicorn status after receiving $200 million of development capital in a Series E round from Dragoneer Investment Group (lead), TPG Capital, BlackRock and T. Rowe Price on August 11, 2020. Says firm Partner Kyle Zasky,
“This is the epitome of an ideal outcome envisioned by our partnership when we created our Investment Group. We often back early-stage, disruptive companies at a stage before traditional venture capital recognizes value or is willing to participate. This strategy is consistent with our DNA as fintech operators and founders, DNA which allows us to have more latitude and imagination on what is investible before it becomes obvious to traditional institutional capital. The strategy doesn’t always work, but when it does (as in the case of Trumid), it’s a pleasure to watch these young businesses come into their own and become successful and important franchises. The SenaHill partnership wishes them well as they continue their journey with this new set of late stage investors to support them in their next leg of growth.”
Trumid is a credit electronic trading platform designed to bring efficiency, connectivity and access to credit professionals through data, technology and innovative products. The company’s platform provides market professionals with direct access to liquidity and market intelligence and leverages the network effect and data science, enabling credit market participants to make more informed trading decisions.
To date, Trumid has raised over $400 million since its founding in 2014. President of Trumid, Mike Sobel, stated, “This is a big validation of years of hard work from across the team. This is a big wind at our back to continue to pursue the ambitious vision that we have.”
Forbes said, “Trumid’s platform, where the entire marketplace engages in bidding, and large trades can be completed with as few as four or five mouse clicks, is well positioned to the new reality.”
Forbes FinTech50 said, “Trumid made a big breakthrough by adding a way for traders to use its platform to initially place bids anonymously, but then negotiate trades directly with credible offers.”
The Wall Street Journal said, “Market share for Trumid Financial LLC…was also above average in December. The surge is the latest good news for electronic trading platforms, which have long touted themselves as oases in the liquidity-parched bond markets.”
Markets Media said, “The only startup credit platform you hear of anymore is Trumid, which not coincidentally has a new data product that is taking up more and more of the conversation with buy-side clients.”