Canoe Intelligence Secures Additional $25M Funding for its Alternative Investment Data Management and Intelligence Platform

Time Stamp: March 21, 2023 9:27 AM
Source Node: 2525872

Canoe Intelligence, a leading provider of alternative investment data management and intelligence platform, has secured an additional $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 data collection, normalization, and reporting. The platform integrates with various data sources, including custodians, fund administrators, and accounting systems, to provide investors with a complete view of their alternative investment portfolios.

The platform also uses artificial intelligence and machine learning algorithms to extract insights from the data, providing investors with actionable intelligence that can help them make better investment decisions.

The new funding will be used to further develop the platform’s capabilities and expand its customer base. Canoe Intelligence plans to hire additional staff and invest in marketing and sales initiatives to accelerate its growth.

“We are thrilled to have Nasdaq Ventures join our existing investors in this funding round,” said Seth Brotman, CEO of Canoe Intelligence. “Their support validates our vision of transforming the alternative investment industry through technology and data-driven insights.”

The alternative investment industry has traditionally been characterized by manual processes and fragmented data sources, making it difficult for investors to gain a complete view of their portfolios. Canoe Intelligence’s platform addresses these challenges by automating data collection and normalization, providing investors with a single source of truth for their alternative investments.

“Canoe Intelligence is addressing a critical need in the alternative investment industry,” said Gary Offner, Head of Nasdaq Ventures. “Their platform is helping institutional investors streamline their operations and make better investment decisions. We are excited to support their growth and look forward to working with them to transform the industry.”

In conclusion, Canoe Intelligence’s additional $25 million funding will help the company continue to innovate and provide institutional investors with a comprehensive alternative investment data management and intelligence platform. With the support of Nasdaq Ventures and other investors, Canoe Intelligence is well-positioned to transform the alternative investment industry through technology and data-driven insights.