FundGuard – a fully cloud-native and AI-powered multi-asset class investment accounting platform for asset managers, asset owners, custodian banks, and fund administrators – announced today the successful closing of its Series C funding round, amounting to $100 million. Key1 Capital and new investors led this latest funding round, including Euclidean Capital and funds managed by Hamilton Lane. And this funding round also saw strong participation from existing strategic investors Blumberg Capital and Team8.
The funding news marks another significant milestone on FundGuard’s path toward becoming the industry’s go-to investment accounting utility.
Launched in 2018, FundGuard is transforming investment operations by utilizing cloud-native technology and AI capabilities to modernize and streamline investment accounting operations and workflows.
Backed by some of the leading financial institutions and now with a total investment of over $150 million to date, this funding round follows two years of evolution and expansion, including new client acquisition, customer onboarding, hiring of top talent across Customer Success, R&D, Product Management and Sales, and the opening of the Boston, London, and Toronto offices.
The funding round raised will be strategically used by FundGuard for ongoing investment in product innovation and continued onboarding of existing and new customers.
KEY QUOTES:
“FundGuard is shaping the future of investment and fund accounting. This latest significant investment round reflects the ongoing support of the industry, the confidence our investors have in the value our products bring to the market, and their trust in our leadership and strategic roadmap.”
– Lior Yogev, CEO and Co-Founder, FundGuard
“The exceptional team at FundGuard has developed a unique, cutting-edge technology platform over the last five years, empowering asset managers and fund administrators with a timely, accurate, and cost-efficient solution to support their investment accounting operations. It is rare to witness a company at this stage receiving significant attention from the largest and most sophisticated clients in an industry dominated by incumbents. This serves as a testament to just how valuable and unique FundGuard’s solution is. FundGuard is just scratching the surface of its potential to revolutionize the Investment Management industry, and we are honored to be their partner.”
– Amit Pilowsky, Co-Founder and Managing Partner, Key1 Capital
“We are thrilled to partner with our newest investors. With their support and partnership, and the continued dedication of our existing investors and talented team, FundGuard is poised for continued growth and market expansion.”
– John Lehner, President, FundGuard
