FundGuard, a cloud-native SaaS platform for investment management and administration, has received $100m in a Series C funding round, to advance new product capabilities and further expand its market reach.
The investment round was led by Key1 Capital and new investors Euclidean Capital and funds managed by Hamilton Lane.
The round also saw participation from existing strategic investors, along with the company’s earliest financial investors, Blumberg Capital and Team8.
FundGuard intends to deploy the funds raised for its ongoing investment in product innovation and continued onboarding of existing and new customers.
FundGuard CEO and co-founder Lior Yogev said: “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.”
FundGuard president John Lehner said: “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.”
Established in 2018, FundGuard is engaged in investment operations by leveraging cloud-native technology and AI capabilities to transform investment accounting operations and workflows.
It is a fully cloud-native, AI-powered, multi-asset class investment accounting platform for asset managers, asset owners, custodian banks and fund administrators.
The company is backed by strategic partners including Citi and State Street, and investment firms Blumberg Capital, Key1 Capital, LionBird Ventures, and Team8 among others.
Key1 Capital is a VC fund backing Israeli and European companies, with two decades of experience in leadership roles at Goldman Sachs.
The company actively seeks to partner with visionary founders who think big and are driven by strong values, helping them meaningfully expand.
Key1 Capital co-founder and managing partner Amit Pilowsky said: “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 revolutionise the Investment Management industry, and we are honoured to be their partner.”
