InvestCloud, Inc., a Los Angeles, California-based provider of cloud-based front and middle-office solutions focused on digitizing customer experiences and internal operations for global investment advisors, raised $45m in growth equity funding.
The round was led by FTV Capital.
The company intends to use the funds to further invest in the platform and functionality, enhance customer service, and expand its global presece. Richard Garman, FTV Capital managing partner, joined InvestCloud’s board of directors in conjunction with the investment.
Led by John Wise, chairman and CEO, InvestCloud has built a proprietary technology platform that offers the investment community the ability to build and customize an end-to-end digital experience. Their platform uses configurable modules, viewed via a single dashboard, integrating dozens of disparate internal/external financial systems, accounts and products, and enabling reports, views of data and workflows. Modules include client communications (document reporting, client reporting, client portal, mobility), client management (CRM and content management system/integration), portfolio management (decision support, performance reporting, attribution, order management, research), operational management (compliance, accounting, billing) and platform repository (data warehousing, aggregation).
InvestCloud serves a wide range of investment managers, including wealth advisors, large family offices, asset allocators (pension funds, endowments), and asset services providers (hedge fund administrators, independent wealth platforms).