FundGuard, an Israel-based SaaS investment management, and asset servicing enterprise platform announced that it closed a $40 million Series B funding, bringing total investment to more than $55 million in 3.5 years.
The investment round included large strategic investors Citi and State Street Corp, who joined initial investors Blumberg Capital, LionBird Ventures, Team8 Capital, and other investors.
The company aims to use the new capital to double its headcount over the coming year.
Company: FundGuard, Inc.
Raised: $40.0M
Round: Series B
Funding Month: April 2022
Lead Investors: Citi and State Street Corp
Additional Investors: Blumberg Capital, LionBird Ventures, and Team8 Capital
Company Website: https://www.fundguard.com/
Software Category: SaaS investment management and asset servicing enterprise platform
About the Company: Founded in 2018 by Lior Yogev (CEO), Yaniv Zecharya (CTO), and Uri Katz (VP R&D). FundGuard’s SaaS platform for investment management and administration helps asset managers and fund administrators to manage mutual funds, ETFs, hedge funds, insurance products, and pension funds, supporting digital transformation, operations automation, AI-based insights, resiliency, and migration to the cloud. FundGuard is the new generation financial services technology company that has built a global asset servicing operating system and technology platform for asset managers and their service providers. Powered by the cloud and AI, FundGuard’s technology existentially changes asset servicing to enable reduced fees and the ability to offer new and innovative products, including crypto-asset, at scale, today and tomorrow. The company employs over 50 people, 40 of them in its Israel headquarters.
Source: https://www.calcalistech.com/ctechnews/article/skqt3qhnc