Canoe Intelligence bags $36m Series C led by Goldman Sachs
New York-based fintech Canoe Intelligence has secured $36 million through a Series C funding round led by Growth Equity at Goldman Sachs Alternatives.
Canoe Intelligence lands $36 million Series C
The round, which more than tripled the company’s valuation from its $25 million Series B in 2023, received additional support from existing investors Eight Roads and F-Prime Capital.
With the latest cash injection, the fintech says it will maintain its investment in developing proprietary AI and machine learning technology while furthering its market expansion.
Jason Eiswerth, CEO of Canoe, says this investment will seek to deliver “comprehensive back-to-front office solutions, maintaining our commitment to data integrity”.
Founded in 2017, Canoe currently services over 325 institutional investors, capital allocators, wealth managers and asset-servicing firms with its cloud-based alternative investments platform.
It claims the platform eliminates the need “for manual data entry” among alternative investors by leveraging AI and machine learning to automatically gather and categorise documents from investor portals and email inboxes.
The news of Canoe’s recent funding round comes hot on the heels of the firm appointing Noel Calhoun, a former CIA analyst, as its chief technology officer in February.
