FundGuard, the cloud-native, AI-powered, multi-asset class investment accounting platform, has closed a $100 million Series C funding round led by Key1 Capital.
Euclidean Capital, funds managed by Hamilton Lane, Blumberg Capital and Team8 joined the round for FundGuard, which has developed a platform that is used by asset managers and fund administrators to manage investments across mutual funds and ETFs, alternatives, insurance, and pensions.
Founded in 2018, FundGuard says its cloud-native technology and AI capabilities helps firms modernise and streamline their investment accounting operations and workflows.
The new money - which comes two years after a $40 million Series B - will be used for product innovation and onboarding of existing and new customers.
Lior Yogev, CEO, FundGuard, says: “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.”