FundGuard Closes $100 Million in Series C
FundGuard, a New York-based startup that provides a cloud-native SaaS platform for investment management and administration, has closed $100 million in Series C.
FundGuard, a New York-based startup that provides a cloud-native SaaS platform for investment management and administration, has closed $100 million in Series C.
Investors
The funding round was led by Key1 Capital, joined by fresh investors such as Euclidean Capital and funds under management by Hamilton Lane (Nasdaq: HLNE). Existing strategic investors, along with early financial backers Blumberg Capital and Team8, also participated.
Key1 Capital is a growth-stage VC fund backing Israeli and European companies. The firm specializes in growth technology companies, assisting with scaling revenue, talent acquisition, and financing.
Euclidean Capital is an investment firm that provides financial guidance and asset management services. It was founded in 2009 and is based in New York, New York.
Hamilton Lane is a private market investment firm that serves institutional and private wealth investors worldwide. Established in 1991, and is headquartered in Philadelphia, Pennsylvania.
FundGuard Use of Funds
The company will use the funds for ongoing investment in product innovation and continued onboarding of existing and new customers.
About FundGuard
Founded in 2018, FundGuard is a company that provides a fully cloud-native, AI-powered, multi-asset class investment accounting platform. It caters to asset managers, asset owners, custodian banks, and fund administrators. FundGuard helps asset managers and their service providers to manage mutual funds, ETFs, hedge funds, insurance products, and pension funds, supporting digital transformation, operations automation, AI-based insights, resiliency, and migration to the cloud.
Funding Details
Company: FundGuard, Inc.
Raised: $100.0M
Round: Series C
Funding Month: March 2024
Lead Investors: Key1 Capital
Additional Investors: Euclidean Capital, Hamilton Lane, Blumberg Capital, Team8
Company Website: https://www.fundguard.com/
Software Category: Investment Management
Source: Ronny Hassid
