Hum Capital, which utilises AI to improve the fundraising process, has netted $9m in its Series A round, which will support its go-to-market strategy.
Future Ventures led the round, with commitments also coming from Webb investment Network, Wavemaker Partners and Partech.
Funds from the Series A will be used to scale Hum Capital’s go-to-market operations and onboard new institutional investors to its platform to extend the diverse investors on its platform. Furthermore, the company is looking to release new vehicles that will give companies a range of financing options to pick from.
Hum Capital’s goal is to modernise the private capital market with an AI-powered solution that can match companies with institutional investors best suited for them.
Some of the high-profile fundraises it has supported this year include SecurityScorecard, Evolv AI and Flaviar. In 2021, Hum Capital’s platform has helped businesses raised a combined total of $400m from 250 institutional investors.
Future Ventures managing director and co-founder Steve Jurvetson said, “Building a general-purpose funding platform like the Intelligent Capital Market is complex, but the breadth of opportunities that it creates can be seen in Hum’s growth in the last year.
“Hum is Future Ventures’ only fintech investment. Hum’s mission to bring the private capital markets online is a big idea that will have a transformative impact on society by removing friction and bias in capital allocation.”
Hum Capital has built a platform to help businesses raise up to $50m in funding. Its machine learning models ingest, organise, label and analyse real-time company financial data from over 100 SaaS system connections. Through this, it can provide advanced analytics, simulations and benchmarks to help companies match with investors based on their fundraising goals and business performance.
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