Israeli AI-powered SaaS investment management and asset servicing enterprise platform FundGuard today announced that it has closed a $12 million Series A financing round led by Team8 and existing investors Blumberg Capital and LionBird Ventures. New investors participating in this round include Jack Klinck, Heidi Miller, Jay Mandelbaum, and Stanton Green. The financing round brings the total raised by FundGuard to $16 million.
FundGuard was founded by CEO Lior Yogev, CTO Yania Zecharya, and VP R&D Uri Katz.
Yogev said, "The industry is ripe for disruption with legacy market infrastructure for investment management struggling to support today’s volumes, complexity of assets, and need for efficiency given the continued fees pressure. There is growing demand for a fully automated, scalable solution that improves operational efficiency and dramatically reduces costs. Our AI-powered, cloud-native platform enables banks, asset managers, and fund administrators to drive efficiencies and enhance transparency by providing a real-time, single source of truth for funds."
FundGuard is trusted by asset managers and fund administrators to manage investments across mutual funds and ETFs, alternatives, insurance, and pensions. Flexible and scalable, FundGuard’s platform automates fund management and administration, improving investment performance through its new-generation AI capabilities and reducing costs with modern workflows and collaboration capabilities.
The AI-powered platform replaces the decades-old solutions in the marketplace today that are no longer able to address growing industry demand for a truly electronic, cross-asset solution to streamline workflows, identify anomalies, and generate actionable insights.
Team8 Capital managing partner Sarit Firon said, "FundGuard has a bold vision for transforming a large and significantly underserved market. FundGuard’s solution has a significant, fast-growing foothold across the investment management industry, and the founding team has a flawless track record in execution that will serve the firm well during its next stage of growth."
The investment will boost product development to support FundGuard’s partnerships with several of the world’s largest fund administrators and asset managers in addition to meeting increasing demand from alternative funds and insurance companies.
Published by Globes, Israel business news - en.globes.co.il - on February 23, 2021
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