Next Step: For financial services firms, the next step is easy. Have you explored and evaluated OpenFin and/or the Google Chromium project? For non-financial services firms, is there value to your vertical in what is being done here? How can an enterprise CIO take a leadership role in examining business possibilities from this type initiative to their own industry?
Boston — Bain Capital Ventures, the venture arm of Boston-based private equity firm Bain Capital, has led the $4 million, first round of venture capital for OpenFin, a New York-based provider of HTML5 technology for financial desktops. Based on Google’s Chromium open-source project, OpenFin allows HTML5 applications to provide native desktop experience in a secure and managed runtime environment. “The financial services industry spends over $40 billion annually on IT and is undergoing a major technology transformation,” said Mazy Dar, CEO of OpenFin, in an announcement about the investment deal. “Major banks, trading platforms and information providers across the industry are migrating their front-end desktop applications from older technologies to HTML5. [OpenFin’s] technology is already being used by three global banks with several more in active trials,” Dar said.