Private markets solution provider Bison has received an undisclosed investment led by FINTOP Capital.
Existing investors Hamilton Lane and GrandBanks Capital also took part in the funding. Following the transaction, FINTOP Capital general partner Rick Kushel will join the company’s board of directors.
Bison operates Cobalt LP and Cobalt GP solutions, which are businesses intelligence software product suites for private fund managers and investors. The products offer clients with real-time portfolio analysis, data visualisation, benchmarking and automated reporting.
Fund managers and institutional investors use the product to optimise workflows, replace Excel and to offer deeper analytics and insights.
With this injection of equity, the company is looking to increase its team numbers, expand its reach to new markets and further innovation of its product. The company is also looking to grow global sales and distribution efforts.
FINTOP general partner Rick Kushel said, “Bison’s technology is powerful and clearly primed to take our global market by storm. Cobalt meets needs that are currently underserved in today’s market, and we believe Bison is uniquely positioned to lead the way in creating innovative technology solutions to solve the ever-increasing need for analysis, collaboration and reporting.”
This investment follows on from the company’s $3m Series A round in late 2016, with Hamilton Lane leading the round. Other investors to the investment included GrandBanks Capital and Accomplice.
Last year, FINTOP Capital led the $3.5m Series A round into FinTech software developer Core10. The company is looking to create 250 new technology jobs by the end of 2020, with the majority of these being in West Virginia.
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