Passthrough, a New York-based SaaS startup, a data-driven subscription document platform that automates the subscription process for private funds, raised a $5 million seed round to provide fund workflow automation, starting with fund closing software.

The round was led by Sam Cates and Patrick O’Shaughnessy from Positive Sum, with participation from Okta Ventures, Great Oaks VC, and Company Ventures, as well as from strategic angel investors including Crossbeam’s Bob Moore.

The round will go toward expanding the product’s rapid growth, the fresh funding will also go toward continuing to grow the company’s team.

Company: Passthrough, Inc.

Raised: $5.0M

Round: Seed Round

Funding Month: February 2022

Lead Investors:  Sam Cates and Patrick O’Shaughnessy from Positive Sum

Additional Investors:  Okta Ventures, Great Oaks VC, and Company Ventures

Company Website: https://www.passthrough.com/

Software Category: Subscription document platform

About the Company: Led by Tim Flannery, Alexandre Laplante, and Benjamin Doran, Passthrough automates the subscription process for private funds, makes it easy to distribute subscription agreements to investors, and has them executed electronically. Passthrough supports any subscription agreement, the result is less time spent going back and forth, better compliance, and structured investor data. Passthrough’s mission is to organize and structure investor identity information and make that information interoperable. Passthrough makes it simple for investors to fill out sub docs and fund managers to manage the raise.

Source: https://www.passthrough.com/blog/passthrough-seed-round https://technical.ly/2022/02/15/passthrough-seed-raise-hiring/