Financial models developer Canalyst has raised $70m from a Series C financing round headed by the Dragoneer Investment Group.
Also taking part in the round were Canada Pension Plan Investment Board, Alta Fox Capital, Vanedge Capital, HighSage Ventures and ScaleUP Ventures.
Canalyst claims it combines software with human expertise to create accurate and detailed financial and KPI data on global public companies, providing finance professionals with access to data that can be trusted and at scale.
With the funding, Canalyst expects to double its global headcount this year to further invest in product development and delivery, global expansion and customer support.
Canalyst co-founder and CEO Damir Hot said, “Everyone in capital markets knows how critical, yet time consuming and error prone, structuring quality financial data is. We’re obsessed with solving that problem and are proud to have earned the trust of some of the world’s most sophisticated investors, first as clients and now as shareholders. This investment is an important step in our journey toward becoming the new fundamental dataset of record.”
Dragoneer partner and co-head of private investments Christian Jensen added, ““Canalyst’s data moat is substantial and will continue to compound. We’re excited to partner with the Canalyst team as they continue to build a remarkable business centered around a product that customers truly love.”
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