US investment management and administration platform FundGuard has raised US$100 million in a Series C funding round led by Israel’s Key1 Capital, which also has North American headquarters in Seattle.
Other investors that participated in the fundraising include US investment firms Euclidean Capital and Hamilton Lane, US venture capital Blumberg Capital, and Israeli venture capital firm Team8, FundGuard says in a statement on March 27.
The company plans to use the funds to further invest in product development and accelerate deployment of new capabilities, and to boost its market reach. It has already opened offices in Boston, London and Toronto.
Established in 2018, FundGuard offers a software-as-a-service investment accounting platform to help asset managers and their service providers manage mutual funds, hedge funds, insurance products and pension funds.
The company raised $55 million in earlier funding rounds from investors including Citigroup, State Street Corp and US venture capital firm LionBird Ventures.
