Hoptroff’s Traceable Time as a Service (TTaaS®) is a network-delivered timing solution for financial services. After an exciting year that saw Hoptroff expand into new industries and geographies, grow existing contracts and onboard important new clients, Hoptroff is ready for further expansion.
MiFID II (EU) and C.A.T. (U.S.) regulations require banks and other Financial Services operators to timestamp transactions extremely precisely, and to validate that they have done so. Hoptroff provides a one-stop-shop, software-only timing service that is simple and easy to scale. Our offering is also more cost-effective than current alternative solutions, which require clients to set up and operate complex multi-supplier, mixed hardware-software installations.
Despite the COVID-19 headwind, we have expanded sales to existing clients and onboarded new clients, including a Tier 1 Investment Bank. We have added distribution partners, continued to grow our team, and have gained a strong foothold in the critical US market, supported by the addition of an experienced Head of U.S. Sales, who is based in New York.
Hoptroff TTaaS® is also gaining traction in the Media sector, allowing broadcasters to transfer and re-synchronise large files using IP distribution, with greater ease and at a lower cost. Significantly, we have worked with the global standards setter (Society of Motion Picture and Television Engineers) to validate Hoptroff time for SMPTE Precision Time Protocol.
In this raise, our goals are:
Accelerate client growth and revenues
Continue our hiring plan
Ramp up selling and marketing
Continue to invest in product development and our expanding global timing hub network