FundGuard closes $100m in Series C funding round

By Delisha Fernandes

FundGuard, the cloud-native, AI-powered, multi-asset class investment accounting SaaS platform, has closed a $100 million Series C funding round.

The round was led by Key1 Capital, Euclidean Capital, and Hamilton Lane, with participation from Blumberg Capital and Team8.

“FundGuard is shaping the future of investment and fund accounting,” said Lior Yogev, CEO and Co-Founder, FundGuard. “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.”

The funds raised in this round will be strategically deployed by FundGuard for ongoing investment in product innovation and continued onboarding of existing and new customers.

FundGuard is transforming investment operations by leveraging cloud-native technology and AI capabilities to modernize and streamline investment accounting operations and workflows. Key to the company’s success has been the combined expertise of its leadership, including experienced funds industry executives and enterprise cloud technology and data science innovators.

Backed by some of the world’s leading financial institutions and now with a total investment of over $150 million to date, this round follows two years of evolution and expansion, including new client acquisition, customer onboarding, significant hiring of top talent across Customer Success, R&D, Product Management and Sales, and the opening of the company’s Boston, London and Toronto offices.

“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,” said Amit Pilowsky, Co-Founder and Managing Partner, Key1 Capital. “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.”