- Canalyst recently announced it raised $70 million in Series C funding. These are the details.
Canalyst — a leading provider of financial data and analytics — recently announced it has raised $70M in a Series C financing led by Dragoneer Investment Group. And Canalyst customers Canada Pension Plan Investment Board (CPP Investments) and Alta Fox Capital participated, along with existing investors HighSage Ventures, Vanedge Capital, and ScaleUP Ventures.
The company is combining software with human expertise to create the most accurate and detailed financial and KPI data on global public companies, giving finance professionals access to fundamental data that can be trusted absolutely and at scale. And over 400 of the world’s top investment managers, banks, and corporations use Canalyst models, data, and APIs as an essential part of their workflow.
Canalyst’s product offering has also expanded to serve global investors focused on credit, private equity, and venture capital in addition to investment banks, consultancies, and the corporate market.
To meet customer demand, Canalyst is expecting to double its global headcount this year to further invest in product development and delivery, global expansion, and customer support.
KEY QUOTES:
“Canalyst’s data moat is substantial and will continue to compound. We’re excited to partner with the Canalyst team as they continue to build a remarkable business centered around a product that customers truly love.”
— Christian Jensen, Partner and Co-Head of Private Investments at Dragoneer
“Everyone in capital markets knows how critical, yet time consuming and error prone, structuring quality financial data is. We’re obsessed with solving that problem, and are proud to have earned the trust of some of the world’s most sophisticated investors, first as clients and now as shareholders. This investment is an important step in our journey toward becoming the new fundamental dataset of record.”
— Damir Hot, Canalyst’s CEO and co-founder
“Canalyst represents an opportunity to invest in a differentiated financial technology company with a unique product offering. We look forward to participating in the company’s growth as a new investor.”
— Delaney Brown, Managing Director and Head of Funds & Secondaries, CPP Investments
