LinkedIn Names Fintech Firm Solovis as Top 2018 Startup

Irving-based Solovis is shaking up how endowments, foundations, and pension funds are managed.

Irving-based fintech innovation leader Solovis Inc. has been making headlines this year.

For starters, an $8 million series A funding round led to a 300 percent increase in revenue, and a doubled employee headcount. In May, Solovis partnered with AcordIQ to expand the data it delivered. Then, co-founder and CEO Josh Smith was named as a finalist in the 2018 EY Entrepreneur Of The Year program for the Southwest region. Now, Solovis has been named as one of the 2018 LinkedIn Top Startups in the U.S.

Solovis is a portfolio management software provider with a cloud-based platform that helps pension funds, endowments, and foundations. The intent is provide a more holistic view of large-scale portfolios with multiple asset classes. Of the 50 startups chosen by LinkedIn, Solovis was listed as No. 37.

Startups were chosen based on where employees wanted to work and stay, using a methodology combining data and an editorial lens. Professionals’ behavior was analyzed from July 2017 to June 2018 in four core areas: employment growth, engagement, job interest, and talent attraction. Lyft, Halo Top Creamery, and Bird also made the list.

SOLOVIS IS SPEEDY: IN GROWTH AND SUCCESS

Solovis moved to DFW in 2015, and has been making headway since. Last year’s cash infusion of the $8 million funding round allowed the acquisition of Madrone Software, and the substantial growth in size and revenue. And, the May partnership with AcordIQ, a provider of private capital services, further initiated a strategic product expansion.

“If you have knowledge about your space, genuinely care, have made an effort, and are willing to step out of your comfort zone…magic can happen.”
Josh Smith

In the July issue of D CEO Magazine, Smith attributed the company’s success to its tailor-made product that taps into a “market within a market.”

“People don’t want to be sold features or products,” Smith told the magazine. “If you have knowledge about your space, genuinely care, have made an effort, and are willing to step out of your comfort zone…magic can happen.”

The growth comes at a time when the use of technology among institutional investors is trending, sources told Pensions&Investments last year. In the article, Smith put it simply: “It’s a rethink of how you get serviced.”

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