FundGuard, the AI-powered SaaS investment management and asset servicing enterprise platform, has closed a $12 million Series A funding round.
The financing is being led by Team8 and existing investors Blumberg Capital and LionBird Ventures.
New investors participating in this Series A round include banking and asset management executives Jack Klinck, a former State Street and Bank of New York Mellon management committee member; Heidi Miller, an HSBC board director and former President of JP Morgan International; Jay Mandelbaum, former Head of Strategy at JP Morgan Chase, and member of both JP Morgan Chase’s and Citigroup’s management committees; Stanton Green, a fintech leader and former senior managing director at Guggenheim Capital, as well as Mindset Ventures and Maccabee Ventures.
The financing round brings the total amount of capital raised by FundGuard to $16 million.
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.