Canoe Intelligence, a leading provider of alternative investment data management and intelligence platform, has secured $25 million in funding. The funding round was led by Nasdaq Ventures, with participation from existing investors Hamilton Lane and Portage Partners.
Canoe Intelligence’s platform is designed to help institutional investors streamline their alternative investment operations by automating the collection, management, and analysis of data. The platform integrates with existing systems and workflows to provide a centralized view of all alternative investment data, including private equity, hedge funds, real estate, and more.
The platform uses artificial intelligence and machine learning algorithms to extract data from various sources, including PDFs, emails, and spreadsheets. The platform then standardizes the data and provides analytics and reporting capabilities to help investors make informed decisions.
The funding will be used to accelerate the development of Canoe Intelligence’s platform and expand its sales and marketing efforts. The company also plans to hire additional staff to support its growth.
“We are thrilled to have Nasdaq Ventures lead this funding round and to have the continued support of our existing investors,” said Seth Brotman, CEO of Canoe Intelligence. “This funding will enable us to continue to innovate and provide our clients with the best possible solution for managing their alternative investment data.”
Canoe Intelligence’s platform has been adopted by a wide range of institutional investors, including pension funds, endowments, foundations, and family offices. The platform has helped these investors save time and reduce operational risk by automating manual processes and providing real-time access to data.
“Alternative investments are an important part of many institutional investors’ portfolios, but they can be challenging to manage due to the complexity of the data,” said Gary Offner, Head of Nasdaq Ventures. “Canoe Intelligence’s platform addresses this challenge by providing a centralized view of all alternative investment data and analytics. We are excited to support Canoe Intelligence as they continue to innovate and grow.”
In conclusion, Canoe Intelligence’s $25 million funding round is a significant milestone for the company and the alternative investment industry as a whole. The platform’s ability to automate data collection and analysis has the potential to revolutionize the way institutional investors manage their alternative investments. With the support of Nasdaq Ventures and other investors, Canoe Intelligence is well-positioned to continue its growth and innovation in this space.
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