Arch, a NYC-based provider of a private investment management platform, raised $20M in Series A funding.
The round, which brought total funding to over $25M, was led by Menlo Ventures, with participation from existing investors Craft Ventures and Quiet Capital, as well as new investors Carta, Citi Ventures, GPS Investment Partners and Focus Financial Partners. The founders of Aduro Advisors, Altruist, Equi, Sydecar and Vanilla also invested, along with Gary Cohn, Scott Prince and Marc Spilker. They were joined by members of Arch’s client base that includes single- and multi-family offices and wealth management firms.
The company intends to use the funds to expand its team and enhance its product. The product roadmap includes automating more workflows for advisors, accountants and their clients; delivering increased insights around an investor’s private markets portfolio; and building additional tools to reduce the risk of fraud against investors. The funds will also enable the company to develop solutions that equip investors and advisors to understand and simplify workflows related to investment manager communications.
Led by CEO Ryan Eisenman, Arch is a private investment management platform modernizing K-1 workflows, automating operations and simplifying reporting for single and multi-family offices, wealth management firms, accounting firms, banks, and institutions. With it, investors are able to manage their investments in one place by connecting with the back office for each private investment, receiving all documents and communications in a secure, aggregated platform. Its automated system collects K-1s, manages cash flows and provides reporting-ready data. The platform collects tax documents across every investment, organizing critical information and delivering these documents automatically to accountants and tax advisors.
Arch serves nearly 200 families, investment firms and institutions, including one of the largest U.S. banks.
FinSMEs
10/11/2023