US investment management platform FundGuard bags $100m Series C funding

FundGuard, a New York-headquartered investment management and administration platform, has raised $100 million in a Series C funding round.
The funding round was led by Key1 Capital and included participation from new investors Euclidean Capital and Hamilton Lane, as well as previous backers Blumberg Capital and Team8, among others.
This funding round comes nearly two years after FundGuard raised $40 million in a Series B round in April 2022, bringing its total funding to date to $155 million.
Founded in 2018, FundGuard offers a Software-as-a-Service (SaaS) investment accounting platform designed to assist asset managers and their service providers in managing various financial products, including mutual funds, ETFs, hedge funds, insurance products, and pension funds, leveraging AI-powered insights.
The company utilizes AI and cloud-native technology to modernize and streamline investment accounting operations and workflows.
The new funding will be used to invest in further product development, accelerate the deployment of new capabilities, and expand market reach. FundGuard has already opened new offices in Boston, London, and Toronto in the two years since its Series B funding round