Private capital market tech developer Chronograph closes its ‘Series X’

Private capital market tech developer Chronograph closes its 'Series X'

Chronograph, which offers modern technology for private capital markets, has closed a ‘Series X’ funding round, as it expands its product suite.

 Summit Partners, a growth equity investor, served as the lead backer. Existing investors Carlyle and Nasdaq Ventures also participated in the round.

With the capital, the company plans to accelerate its global growth and deepen its portfolio of portfolio monitoring, reporting and analytics solutions.

Headquartered in Brooklyn, Chronograph was created to bring next-generation technology to private capital markets participants.

Through its suite of cloud-based analytics and data management solutions, the FinTech company helps investors understand, value and manage their private investments.

It claims that its solutions remove dependencies on error-prone, manual and time-consuming templates for portfolio companies and funds. Users can run analytics, run analytics, conduct valuations and build reports powered by automated data pipelines that produce clean, rich, reliable data.

Since it was founded in 2016, the company now monitors over $6trn of private equity and venture capital assets on behalf of institutional limited partners and general partners, with over 100,000 private companies represented on the platform.

Chronograph co-founder and CEO Charlie Tafoya said, “Information is the ultimate asset in private markets.

“The enormous growth in private capital strategies over the past decade has brought about an equally significant expansion in the volume and complexity of valuable data that the world’s best investors look to efficiently gather, manage, and use. We are focused on driving continued innovation on behalf of our clients and are excited to invest further in capabilities that support more timely reporting and analysis, improvements in ESG data management, and LP/GP data inter-connectivity.”

Speaking on why the company called this their ‘Series X’ round, Tafoya remarked that it reflects how the company has not pursued a traditional fundraising strategy. “Instead, we have focused on building a scalable, capital-efficient company with a world-class team.”

The company previously closed its Series A round in 2019. The capital was supplied by AlpInvest Partners and Nasdaq Ventures.  

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