Financial Software Company PeerNova Raises $31 Million In Funding

By Annie Baker • Oct 28, 2019
  • Leading enterprise software company PeerNova announced it has raised $31 million in growth funding led by Mosaik Partners

PeerNova — a leading enterprise software company in the financial industry — announced it has raised $31 million in growth funding led by Mosaik Partners.

Existing investors Medici Ventures and Intuitive Venture Partners also joined this funding round. Including this round of funding, PeerNova has raised a total of $74 million in funding.

“We are very excited to announce this round of funding,” said Gangesh Ganesan, PeerNova’s President and CEO. “We are committed to further building our unique solution that solves relevant, timely, and pertinent problems that plague data and process integrity in the financial industry. We will use this round of financing to continue our mission, increase market penetration, and extend the functionality and use cases of our Cuneiform Platform.”

The PeerNova Cuneiform Platform enables financial institutions to attain end-to-end digitization by unifying disparate sources of data and lifecycle events. And the Cuneiform Platform allows financial institutions to perpetually synchronize their data across multiple internal and external systems thus guaranteeing data and process integrity.

The perpetual synchronization simplifies reconciliation, automates exception processing, and provides greater end-to-end operational visibility across workflows in real-time.

“PeerNova is an innovative company with an exciting technology that will make current data integrity challenges obsolete,” added Atiq Raza, PeerNova’s Chairman of the Board. “Today, data is an ever-growing asset for any company. This is particularly true for financial institutions for which data is mission-critical.”

PeerNova was founded in 2013 by entrepreneurs with deep expertise in blockchain, big data, and financial infrastructure. And the company solves some of the biggest challenges in the financial industry.

“PeerNova has solved seemingly insurmountable reconciliation, asset optimization, and data integrity challenges for the largest financial institutions, saving them millions of dollars in annual costs and freeing up billions in revenue-generating collateral and reserves,” explained Howard Mergelkamp, Managing Partner at Mosaik Partners. “We are excited to lead this growth round to bring PeerNova’s extraordinarily high-value solutions to financial institutions globally.”

PeerNova is based in Silicon Valley and the company also has sales offices in New York and London.

“PeerNova’s world-class team is the force behind bringing this unique blockchain-based platform to market,” commented Jonathan Johnson, President of Medici Ventures and a PeerNova board member. “PeerNova has products in production that are solving key trust and transparency challenges, removing friction, and allowing clients to seamlessly use their resources more efficiently.”