DiligenceVault, a diligence platform for investment managers, asset owners and allocators, has closed its Series A round to accelerate growth.
The round was led by Goldman Sachs with participation also coming from unnamed existing backers.
Proceeds of the Series A are earmarked for supporting the company’s growth and expansion efforts.
The company was built to help automate the due diligence process which is burdened by lengthy manual processes. Its technology can collate, structure and analyse manager and fund data across investment, operational due diligence, ESG, compliance and tax.
The company has a client base of more than 9,000, powering 90,000 investor-manager interactions across $9 trillion in assets under diligence.
DiligenceVault founder Monel Amin said, “Since the inception, we have invested in our technology platform and the sales process with industry dynamics in mind. We are excited about this investment partnership as it will help us scale globally, focus on integrations that are important to our users, and continue to execute on creating a two-sided digital network for the asset management industry.”
Copyright © 2019 FinTech Global
