Accelex, a leading provider of AI automation for private markets data, raises $15m Series A
November 1, 2023 – Accelex, a leading provider of AI automation for private markets data acquisition, reporting and analytics, raises a $15 million Series A funding round led by FactSet, a global financial digital platform and enterprise solutions provider, with participation from us at AlbionVC and existing investors Illuminate Financial, SixThirty Ventures and Expon Capital.
The capital infusion comes at a time of rapid growth for Accelex, allowing the firm to further expand operations, enhance product capabilities, and deliver exceptional client success.
Transparency is vital for investors. However, unlike traditional assets, investments in private markets are plagued by unstructured content, often requiring expensive and error-prone manual processing. Accelex is transforming the way investors tackle these challenges by leveraging market-leading data science to automate the end-to-end workflows from document acquisition and data extraction to reporting and analytics. Accelex brings innovation to the alternative assets industry, providing clients with solutions to better understand the drivers of investment performance.
“Today we serve some of the world’s largest and most sophisticated investors, and their service providers, delivering better data, faster while reducing their operational burden.” said Michael Aldridge, President at Accelex.
“We are delighted with the completion of this latest financing round with FactSet and the continued support from our financial partners,” remarked Franck Vialaron, Chief Executive at Accelex. “This further validates the Accelex team, our approach to innovation, and the unique value proposition we offer our private markets clients.”
This funding comes at an exciting time for Accelex. During the past 24 months the firm has embarked on a phenomenal growth trajectory, adding a large number of top-tier asset owners and allocators along with asset servicers and service providers as clients. These firms now represent a combined asset base of over $1.5 trillion, invested in more than 13,000 private market funds across 4,000 asset managers.
Read the full press release here.