Edda, a collaborative software for professional investors, has raised $5.8m in funding to support the launch of its design-led product.
Its product combines dealflow, portfolio, LPs and business community management into a single product. It enables members of investment teams, from analysts to CFOs and partners, to collaborate through an online platform or a mobile app.
Its services are currently used by more than 100 investment firms across 26 countries. Its clients include Plug&Play, BPI France, Future Shape LLC, Headline JP and more.
The funding round was backed by Mucker Capital, Plug&Play, FJ Labs, Tony Fadell’s Future Shape and angel investor, Arnaud Bonzom.
With the capital, the company plans to hire more staff and deepen its product offerings.
Speaking on the investment, FJ Labs founding partner Fabrice Grinda said, “Much like Bloomberg altered an industry’s ability to operate, Edda will transform how investors visualise their fund and manage their deal-flow and relationships.
“Venture capital and private equity in general has gone from strength to strength over the past decade, spreading into new sectors and becoming the cornerstone of innovation investment.
“As we face a more challenging investment environment, investors need game changing collaborative tools such as Edda to help to ensure they remain one step ahead.”
The Fintech company claims that most investment firms still rely on tools like Excel spreadsheets to manage their portfolios. Edda’s visual management system enables investors to monitor the true/layered dimensions of investments, in real-time.
Clément Aglietta, founder and CEO of Edda, said, “Despite the unparalleled growth in the private markets, investing in the world’s most innovative and cutting edge technologies, the tools used to manage these assets are outdated. Edda has been built to take alternative assets investment to the next level, connecting the ecosystem in realising the greatest value of investment beyond financial gains.”
Mucker Capital recently joined the $16m Series A funding round of vulnerability detection platform Inspectiv.
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