Accelex: AI Automation Provider Raises $15 Million

By Annie Baker • Nov 16, 2023

Accelex – a leading provider of AI automation for private markets data acquisition, reporting, and analytics – recently announced it had closed a $15 million Series A funding round led by FactSet, a global financial digital platform and enterprise solutions provider, with participation from existing investors Illuminate Financial, AlbionVC, SixThirty Ventures, and Expon Capital.

The funding round comes at a time of rapid growth for Accelex, enabling the firm to expand operations further, enhance product capabilities, and deliver exceptional client success. And this deal strengthens the relationship between the two firms, with Accelex’s technology already a key enabler in FactSet’s private markets growth strategy.

This transparency is vital for investors. But unlike traditional assets, investments in private markets are plagued by unstructured content, often requiring expensive and error-prone manual processing.

Accelex is also transforming how investors tackle these challenges by utilizing market-leading data science to automate the end-to-end workflows from document acquisition and data extraction to reporting and analytics. And FactSet and Accelex are bringing innovation to the alternative assets industry, thus providing clients with solutions to understand the drivers of investment performance better.

This funding comes at a pivotal time for Accelex. Over the past 24 months, the company has embarked on a phenomenal growth trajectory, adding many top-tier asset owners, allocators, and asset servicers and service providers as clients. These firms now represent a combined asset base of over $1.5 trillion, invested in over 13,000 private market funds across 4,000 asset managers.

Zelig Capital Partners has acted as a financial advisor, and Goodwin Procter LLP has acted as a legal advisor to Accelex. Mills & Reeve LLP acted as legal advisor to FactSet.


“We are delighted with the completion of this latest financing round with FactSet and the continued support from our financial partners. This further validates the Accelex team, our approach to innovation, and the unique value proposition we offer our private markets clients.”

— Franck Vialaron, Chief Executive at Accelex

“This partnership will solidify our position as a leader in the alternative investment data management and analytics space. Today we serve some of the world’s largest and most sophisticated investors, and their service providers, delivering better data, faster while reducing their operational burden.”

— Michael Aldridge, President at Accelex

“Data-driven decision-making is critical for our clients, particularly as their portfolios increase in exposure to private capital, where the acquisition, aggregation, and analysis of investment data has been a challenge. We are thrilled to partner with Accelex on this journey to bring innovative solutions to private markets, united by our shared commitment to empowering the alternative investment community with superior data and analytics, enabling better investment outcomes.”

— Rob Robie, Executive Vice President, Head of Institutional Buyside at FactSet