The Israeli cloud company raised 100 million dollars to accelerate the development of new products

The Israeli cloud company raised 100 million dollars to accelerate the development of new products

The startup company FundGuard, which develops an AI-based cloud platform for managing investment portfolios, has completed a Series C fundraising round of $100 million. The round was led by Key1 Capital, with participation from Euclidean Capital, Hamilton Lane and existing investors Blumberg Capital and Team8. In the past, Citi and State Street invested in the company, and since its establishment, it has raised over 150 million dollars.

In the world of investment management, there is a noticeable increase in the complexity of financial assets and the scope of activity, alongside an increase in regulatory requirements and increasing competition in the industry. Despite the need for technological tools, there is great difficulty in being able to respond to the complex requirements of the field. Such as compliance with particularly strict regulation, verification of many data in real time and more. Fundguard has developed a cloud-based solution, the first of its kind, that provides an accurate answer to this complex challenge.

The SaaS platform developed by the company is used by some of the largest financial entities in the world, in the field of managing investment portfolios worth many trillions of dollars. It provides a solution for the management of various financial products, for the wide range of existing asset managers, including mutual funds, ETFs, hedge funds, insurance products and pension funds, while implementing automation, improving work processes and collaboration capabilities between different units and companies in portfolio management and administration. The technology enables the identification of problems and failures, provides practical insights to improve management and facilitates the implementation of digital transformation in organizations and the transition to the cloud, which results in operational efficiency and a dramatic reduction of expenses.

Fundguard was founded in 2018 by Lior Yogev, the company's CEO, Yaniv Zakaria, CTO, and Uri Katz, VP R&D, who previously met during their military service in Unit 8200. After their discharge, each of them worked in senior management positions, including Goldman Sachs, Salesforce, and Tipranx, until who decided to establish the company. Fundguard employs over 120 people, most of them in the Israeli development center located in Azrieli Towers in Tel Aviv and the rest in offices in Boston, New York, London and Toronto. Among Fundguard's clients are the banking giants Citi and State Street, who even invested in the company. The fundraising funds will be used to accelerate the development of new products, expand the deployment in the market and hire employees in all areas of the company's activity, including development roles, product management and more.

Lior Yogev, co-founder and CEO of FundGuard: “The significant investment round reflects the ongoing support of the industry and the trust of the new and existing investors in the value that our products bring to the market, in the staff and management and in the strategic plan to realize the company's goals. We are now continuing even more strongly in the journey to redesign the world of investments.”

Amit Filovsky, founding partner of the Key1 Capital fund: “Over the past five years, Fundguard's extraordinary team has developed a unique and advanced technological platform, which provides investment managers with an accurate, immediate and efficient solution that helps them manage investments. The company received, in an unusual way, at the very beginning of its journey significant attention from parties central to the global financial industry, some of whom have become customers and even investors, a testament to the uniqueness of the company's solution. Fundguard is only at the beginning of realizing its potential to revolutionize the investment management industry, and we are proud to become partners in it.”

Founders of Fundgard - Credit Nati Levi
Founders of the Fundguard company that raised 100 million dollars. Photo: Nati Levy

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