Sightglass, a new AI-based investor relations platform for the private markets, announced that it had raised a $3 million seed funding round led by Base10 Partners.
Sightglass was created by Thomas Buley, who has spent his career in finance and fintech, most recently as the VP of Product at Guideline. And the company will use the funding to accelerate product development and expand its market presence.
Sightglass launched in March 2024, and customers quickly saw over 90% time savings when responding to investor information requests during fundraising. And Sightglass has since expanded its product offerings to help venture capital firms collect diversity metrics from their portfolio companies to share with their limited partners and to meet new reporting requirements from the state of California.
Using Sightglass, investor relations teams save hundreds of hours per year that they can spend deepening investor relationships, while limited partners get higher-quality, timely, and actionable data.
Launched in 2022, Sightglass was originally incubated inside Base10 Partners. The founding team worked closely with the firm to develop the initial versions of the product, which Base10 is a customer of.
KEY QUOTES:
“Sightglass was founded to bring greater transparency, trust, and efficiency to the private markets. As institutional investors are committing record amounts of capital to alternatives, they’re demanding greater transparency from their investment managers. Sightglass facilitates that information flow, from our AI-powered data rooms during fundraising through automating responses to ongoing due diligence questionnaires.”
– Thomas Buley, the Founder and CEO of Sightglass
“Sightglass is revolutionizing GP-LP workflows by automating processes, starting with DDQs and expanding across the full spectrum of interactions. This enables faster closings, fosters deeper transparency, and drives significant efficiency gains, transforming how GPs and LPs engage and build lasting partnerships.”
“Thomas and the Sightglass team are addressing a critical pain point in private markets. GPs are under pressure to deliver greater transparency, while LPs demand accountability, so much so that the Base10 team now uses Sightglass to deliver our own higher standard of transparency, trust, and meaningful collaboration between Base10 and our LPs.”
– Adeyemi Ajao, Co-founder and Managing Partner at Base10 Partners
