Canoe Intelligence, a prominent player in the financial technology sector, has successfully completed a $36m Series C funding round.
This round was spearheaded by Growth Equity at Goldman Sachs Alternatives, with contributions from existing stakeholders F-Prime Capital and Eight Roads. This funding milestone has notably tripled Canoe’s company valuation compared to its Series B in 2023.
Canoe Intelligence is at the forefront of developing AI and machine learning technologies aimed at enhancing alternative investment management. The firm’s innovative platform is designed to optimize data accuracy and accessibility, improving efficiency across financial back and front offices.
The newly acquired funds are earmarked for several strategic initiatives. Primarily, Canoe plans to further its development of cutting-edge AI technologies that promise to revolutionize the management of alternative investments.
Jason Eiswerth, CEO of Canoe Intelligence, expressed his optimism about the impact of the investment. Eiswerth said, “The success of this funding round is a testament to our leading market position, as well as our future potential. With the additional capital, we will continue to advance the alts industry by building innovative AI and machine learning technology, delivering comprehensive back-to-front office solutions, maintaining our commitment to data integrity and, most importantly, creating value for our clients.”
Canoe Intelligence stands out for its robust infrastructure that significantly enhances data management processes. The company supports a vast client base, including 325 major institutional investors and capital allocators. This platform effectively streamlines data management tasks, ensuring high standards of data integrity which, in turn, bolsters client satisfaction and operational efficiency.
Jade Mandel, Managing Director in Growth Equity at Goldman Sachs Alternatives, commented on the investment, “Canoe creates meaningful value for its clients, streamlining and synthesizing data for greater efficiency and accuracy. As inflows to alternative investments continue to grow, Canoe is uniquely positioned to capitalize on the trend. We see significant potential in Canoe and are excited to invest in their future. We are glad to support their mission to streamline alternative investment data globally.”
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