Accelex, an innovator in AI automation for private market data, has successfully closed a $15m Series A funding round.
The round was spearheaded by FactSet, a comprehensive financial digital platform and enterprise solutions provider, with additional backing from Illuminate Financial, AlbionVC, SixThirty Ventures, and Expon Capital.
The funding marks a significant milestone for Accelex, which is at a critical juncture of expansion. The fresh capital will be instrumental for the firm to broaden its operations, advance product features, and ensure outstanding client service. This investment also cements the partnership between Accelex and FactSet, with Accelex’s technology being integral to FactSet’s strategy for private markets.
Investing in private markets presents unique transparency challenges, often hindered by unstructured data and the need for manual, error-prone processes. Addressing this, Accelex is at the forefront, automating complex workflows from document collection to data extraction and analysis, reshaping how investors manage these obstacles. Through cutting-edge data science, Accelex, in collaboration with FactSet, is pioneering the evolution of alternative asset management, equipping clients with robust tools for a deeper understanding of investment performance determinants.
Rob Robie, Executive Vice President, Head of Institutional Buyside at FactSet, emphasized the importance of data-driven strategies, especially in the intricate realm of private capital. “Our alliance with Accelex is set to deliver trailblazing solutions to private markets, driven by a mutual dedication to enhance the alternative investment community with unmatched data and analytics for improved investment returns,” Robie highlighted.
Echoing this sentiment, Michael Aldridge, President at Accelex, pointed out the partnership’s potential. “This collaboration reaffirms our leadership in the alternative investment data management and analytics arena,” Aldridge noted. “We are committed to serving our sophisticated clientele with superior data swiftly, reducing operational complexities.”
Franck Vialaron, Chief Executive at Accelex, also expressed enthusiasm. “The successful closure of this funding round with FactSet and the ongoing support from our partners further endorses the Accelex team’s innovative spirit and the exceptional value we deliver to our private market clients,” Vialaron remarked.
The investment arrives at a pivotal period for Accelex, which has seen remarkable growth over the past 24 months, adding an impressive roster of top-tier asset owners, allocators, and service providers to its clientele, representing over $1.5 trillion in assets across 13,000 private market funds and 4,000 asset managers.
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