Canoe Intelligence, the financial technology company powering smarter alts management, announced the completion of its Series C financing round of $36 million, led by Growth Equity at Goldman Sachs Alternatives with participation from existing investors F-Prime Capital and Eight Roads.
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This latest round marks a significant milestone for Canoe Intelligence, representing a more than 3x increase in company valuation since its Series B financing in 2023. With the additional capital, Canoe will continue its investment in building proprietary AI and machine learning technology to enhance its comprehensive back-to-front office capabilities.
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“We eagerly anticipate driving the next phase of Canoe’s evolution in partnership with Goldman Sachs,” said Jason Eiswerth, CEO of Canoe Intelligence. “The success of this funding round is a testament to our leading market position, as well as our future potential. With the additional capital, we will continue to advance the alts industry by building innovative AI and machine learning technology, delivering comprehensive back-to-front office solutions, maintaining our commitment to data integrity and, most importantly, creating value for our clients.”
Jade Mandel, Managing Director in Growth Equity at Goldman Sachs Alternatives, said, “Canoe creates meaningful value for its clients, streamlining and synthesizing data for greater efficiency and accuracy. As inflows to alternative investments continue to grow, Canoe is uniquely positioned to capitalize on the trend. We see significant potential in Canoe and are excited to invest in their future. We are glad to support their mission to streamline alternative investment data globally.”
Canoe leverages artificial intelligence and machine learning to automatically collect and categorize alternative investment documents from investor portals and email inboxes. The technology then extracts, validates, and delivers clean data to downstream systems, eliminating the need for manual data entry. Annually, Canoe processes more than 25M documents, showcasing scalability, breadth and depth. For clients, this results in a 20-fold increase in the number of funds processed per employee, compared to their previous manual processes, highlighting the impact of Canoe’s technology on operational efficiency and productivity.
About Canoe Intelligence
Canoe Intelligence is a financial technology company dedicated to advancing alternative investment intelligence for institutional investors, capital allocators, wealth managers, and asset servicing firms. Canoe empowers clients with technology, data, and insights to manage alternative assets more efficiently, accurately, and confidently. With a commitment to innovation and excellence, Canoe is redefining the future of alternative investment data management.
