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- FundGuard
FundGuard Valuation, Funding & Investors
FundGuard is valued at $400M as of March 2024.
Last FundGuard valuation
$400M
Series C · Mar 2024
Last FundGuard funding round
$100M
Series C · Mar 2024
Cumulative funding FundGuard raised
$156M
across 4 funding rounds
Key investors in FundGuard
Blumberg Capital
LionBird
Team8
Mindset Ventures
Plug and Play
Citigroup
About FundGuard
FundGuard is a Tel Aviv-headquartered developer of an AI-powered cloud platform for investment fund administration. The technology detects anomalies, automates exception resolution, and suggests optimizations, enabling asset managers to deliver digital products with real-time transparency and portfolio accounting.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$400M (Mar 2024)
FundGuard Valuation
FundGuard is currently valued at $400M, based on its Series C in March 2024.
The $100M round was led by Key 1 Capital, with participation from Hamilton Lane, Blumberg Capital, Mindset Ventures, Team8, Union Tech Ventures and 1 other investor.
FundGuard valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2024 | Series C | $400M |
FundGuard Funding History
FundGuard has raised a total of $156M across 4 funding rounds.
FundGuard's first fundraising round was a $4M seed round in October 2018. The most recent completed round was a $100M Series C in March 2024.
FundGuard funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2024 | Series C | Key 1 Capital (lead); Hamilton Lane; Blumberg Capital; Mindset Ventures; Team8; Union Tech Ventures; Euclidean Capital | $100M | $400M | FundGuard is a cloud-native, AI-powered investment accounting platform founded in 2018 that serves asset managers, asset owners, custodian banks, and fund administrators. The platform helps clients manage mutual funds, ETFs, hedge funds, insurance products, and pension funds by streamlining investment accounting operations, automating workflows, providing AI-based insights, and supporting digital transformation and cloud migration. The company operates offices across New York, Boston, London, Toronto, and Tel Aviv. In March 2024, FundGuard closed a Series C funding round of $100 million led by Key1 Capital, with participation from new investors Euclidean Capital and Hamilton Lane, alongside existing strategic investors Blumberg Capital and Team8. The round brought total funding raised to over $155 million. According to reported sources, the Series C was raised at a valuation of approximately $400 million, representing a 50% increase from the company's Series B valuation approximately two years prior in April 2022, when it raised $40 million. CEO Lior Yogev noted that the company had secured significant new clients and was in advanced stages of negotiating further contracts, while also forging partnerships to enter new markets. The funding was designated for product innovation, customer acquisition, and market expansion to accelerate FundGuard's position as the industry's AI-powered investment accounting utility. |
| Apr 2022 | Series B | State Street (lead); Blumberg Capital; LionBird; Citigroup; Team8 Capital; Cerca Partners | $40M | - | FundGuard is a cloud-native SaaS platform powered by AI for investment accounting and fund administration, enabling asset managers, fund administrators, custodian banks, and service providers to manage mutual funds, ETFs, hedge funds, insurance products, pension funds, and digital assets. The platform supports digital transformation, operations automation, AI-based insights, cloud migration, and resiliency, with integrations like State Street Alpha for straight-through processing from portfolio management to custody. Founded in 2018, FundGuard has expanded its client base including State Street as an anchor customer and strategic partner, and opened offices in Boston, London, and Toronto. On April 19, 2022, FundGuard closed a $40 million Series B funding round co-led by State Street Corporation, with participation from Citi, Blumberg Capital, LionBird Ventures, Team8 Capital, and Cerca Partners, bringing total funding to over $55 million at the time. The capital was intended to expand the workforce to meet demand from asset managers and service providers frustrated with legacy technology costs and limitations. This followed prior rounds including a Series A in February 2021 and seed in 2018, with cumulative funding reaching $150 million by the 2024 Series C. In the two years post-Series B, FundGuard advanced product capabilities, onboarded new customers in asset management, fund administration, and custody, and launched enhancements like digital asset support. State Street integrated FundGuard's solution into its Alpha platform for investment accounting. By March 2024, FundGuard raised a $100 million Series C led by Key1 Capital with Euclidean Capital, Hamilton Lane, and existing investors including Blumberg and Team8, valuing the company at up to $400 million per Israeli media reports cited in secondary sources, though executives declined to disclose revenue or valuation details for prior rounds. |
| Feb 2021 | Series A | Blumberg Capital (lead); LionBird (lead); Team8 (lead); Maccabee Ventures; Mindset Ventures; Hyperplane; Stanton Green; Heidi Miller; Jay Mandelbaum | $12M | - | FundGuard is an AI-powered SaaS platform for investment management and asset servicing, serving asset managers, fund administrators, custodian banks, and asset owners. The platform automates fund management and administration across mutual funds, ETFs, alternatives, insurance, and pension investments, replacing legacy systems through modern cloud-native architecture and AI-driven capabilities including anomaly detection, exception resolution, and reconciliation automation. In February 2021, FundGuard closed a $12 million Series A funding round led by Team8, with participation from existing investors Blumberg Capital and LionBird Ventures, plus angel investors including Jack Klinck (former State Street and BNY Mellon executive), Heidi Miller (HSBC board member and former JPMorgan International president), Jay Mandelbaum (former JPMorgan Chase strategy head), and Stanton Green. The round brought total capital raised to $16 million. FundGuard's founders are CEO Lior Yogev, CTO Yania Zecharya, and VP R&D Uri Katz. The company addressed a market opportunity in asset management and fund administration undergoing digital transformation, with growing demand from alternative funds and insurance companies seeking operational efficiency and cost reduction through automation and real-time transparency. |
| Oct 2018 | Seed | Blumberg Capital (lead); LionBird (lead); Plug and Play | $4M | - | FundGuard, founded in 2018, is a cloud-based investment funds operating system powered by AI, designed to revolutionize investment funds technology by bringing operational efficiencies to asset managers, custodian banks, and fund administrators. FundGuard launched its platform and secured $4 million in seed funding on October 18, 2018, led by Blumberg Capital and LionBird Ventures, with Plug and Play also participating as an investor. The capital was allocated to accelerate platform development, including the Contingency NAV product, and to introduce AI and cloud-based efficiencies to the market. Blumberg Capital highlighted FundGuard's industry expertise and vision for leveraging AI in investment fund operations, while LionBird emphasized its potential to digitize the industry amid regulatory pressures. |
Who has invested in FundGuard?
18 investors have backed FundGuard across its funding rounds, including Blumberg Capital, LionBird, Team8, Mindset Ventures, Plug and Play and Citigroup.
Lead investors include Key 1 Capital, State Street, Blumberg Capital, LionBird and Team8.
FundGuard Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Oct 2018 | ||
| 3 | Lead | Oct 2018 | ||
| 2 | Participant | Feb 2021 | ||
| 2 | Lead | Feb 2021 | ||
| 1 | Participant | Mar 2024 | ||
| 1 | Participant | Feb 2021 | ||
| 1 | Participant | Oct 2018 | ||
| 1 | Participant | Feb 2021 | ||
| 1 | Participant | Apr 2022 | ||
| 1 | Participant | Feb 2021 | ||
| 1 | Lead | Mar 2024 | ||
| 1 | Lead | Apr 2022 | ||
| 1 | Participant | Mar 2024 | ||
This data is available for Pro users. Sign up to see all 18 FundGuard investors. Start Free Trial | ||||
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Start Free TrialFundGuard Competitors
FundGuard competitors include listed companies like Network People Services, Aurionpro Solutions and 63 Moons, and private ones like FINBOURNE Technology, Akur8 and Kissht.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $20M | $6M | $404M | - | ||
| Publicly listed | $147M | $30M | $395M | 2.4x | ||
| Publicly listed | $22M | ($16M) | $420M | - | ||
| Private | - | - | $372M | - | ||
| Private | - | - | $432M | - | ||
| Private | $44M | - | $450M | 10.2x |
FundGuard Public Comps
FundGuard is still privately-owned, but its public comps include Fondul Proprietatea, Network People Services, Aurionpro Solutions, Future Generation Investment Company, Bosqar, Invalda INVL, Mirrabooka Investments, BNY Mellon Strategic, Longshield Investment and Boston Omaha.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $107M | - | 3.8x | - | - | - | |||
| $20M | $6M | 18.3x | - | 67.3x | - | |||
| $147M | $30M | 2.6x | 2.4x | 12.6x | 12.3x | |||
| $55M | - | 7.1x | - | - | - | |||
| $413M | $46M | 1.9x | - | 17.1x | - | |||
| $64M | $50M | 6.1x | - | 7.9x | - | |||
| $7M | - | 58.4x | - | - | - | |||
| ($13M) | - | (40.1x) | - | - | - | |||
This data is available for Pro users. Sign up to see all FundGuard competitors and their valuation data. Start Free Trial | ||||||||
Common questions about FundGuard
| When was FundGuard founded? | FundGuard was founded in 2018. |
| Where is FundGuard headquartered? | FundGuard is headquartered in New York City, NY, United States. |
| Is FundGuard publicly listed? | No, FundGuard is a private, VC-backed company. |
| What is FundGuard's valuation? | FundGuard was last valued at $400M in its Series C in March 2024. |
| How much funding has FundGuard raised? | FundGuard has raised $156M across 4 funding rounds. |
| What was FundGuard's last funding round? | FundGuard's last funding round was a $100M Series C in March 2024, led by Key 1 Capital. |
| Who are FundGuard's investors? | FundGuard's investors include Blumberg Capital, LionBird, Mindset Ventures, Team8, Hamilton Lane, Maccabee Ventures, Plug and Play, Hyperplane, Citigroup, Stanton Green and 8 others. |
| Which companies are comparable to FundGuard? | Companies comparable to FundGuard include Network People Services, Aurionpro Solutions, 63 Moons, FINBOURNE Technology, Akur8 and Kissht. |
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