InvestCloud Acquisition, Valuation, Funding & Investors
InvestCloud was acquired by Motive Partners, Clearlake Capital, Accenture, Citi Ventures and Fiserv for $1B in February 2021.
InvestCloud acquisition price
$1B
Acquired by Motive Partners, Clearlake Capital +3 · Feb 2021
Cumulative funding InvestCloud raised
$54M
across 2 funding rounds
Key investors in InvestCloud
Kern Whelan Capital
Altos Ventures
FTV Capital
Polar Capital Management
About InvestCloud
InvestCloud is an American wealth management software company headquartered in Los Angeles that provides cloud-based technology to banks, wealth managers, registered investment advisers, asset managers and turnkey asset management platforms. Its products span managed account solutions including the APL managed account engine, private markets tools such as PM+ and the Altic network, advisor and client engagement applications, a wealth data platform, and data management, revenue management and post-trade processing and settlement services. It sells the platform on a software-as-a-service basis to clients that have included Wells Fargo, BNP Paribas and Raymond James; its platforms support more than $6 trillion in assets, and interim chief executive Richard Lumb said it generated $370 million of revenue in 2022. InvestCloud was founded in 2010 as a software platform for financial advisors, led by co-founder John Wise. In 2021 Motive Partners and Clearlake Capital bought about 88% of the company at a valuation of about $1 billion and combined it with Motive's Tegra118 and Finantix. Wise and other senior executives left in April 2023, and Motive chairman Jeff Yabuki became chief executive in early 2024.
Founded
2010
HQ
Los Angeles, CAWebsite
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Valuation
$1B (acquired Feb 2021)
InvestCloud Acquisition
InvestCloud was acquired by Motive Partners, Clearlake Capital, Accenture, Citi Ventures and Fiserv for $1B on 2 February 2021.
Before the acquisition InvestCloud had raised $54M across 2 funding rounds.
Motive Partners and Clearlake Capital Group agreed on 2 February 2021 to acquire 80% of InvestCloud, a Los Angeles-based provider of digital wealth and investment management software, together with funds advised by Motive Partners. Accenture, Citi Ventures and Fiserv provided co-investment for the transaction, which recapitalized InvestCloud at a reported valuation of $1 billion. At the same time the sponsors combined InvestCloud with two existing Motive Partners portfolio companies, Finantix and Tegra118, to build a global software-as-a-service wealth solutions platform led by InvestCloud CEO John Wise. The parties said Tegra118 would serve as a base for future product development and Finantix would add private banking capabilities and a footprint in Europe and Asia. The combined company had more than 500 direct clients, including over 380 wealth managers and over 120 asset managers, with hundreds more indirect clients managing more than $4 trillion of assets on the platform. InvestCloud was founded in 2010 and provides a modular, enterprise-grade digital platform used by banks, private banks, insurers and wealth managers for client portals, advisor tools and back-office processes. It sells its software to financial institutions on a recurring subscription basis.
Sources: prnewswire.com, cooley.com, riabiz.com
InvestCloud Funding History
InvestCloud has raised a total of $54M across 2 funding rounds.
InvestCloud's first fundraising round was a $9M Series A in October 2013. The most recent completed round was a $45M Series B in October 2015.
InvestCloud funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Oct 2015 | Series B | FTV Capital (lead); Kern Whelan Capital (lead) | $45M | InvestCloud is a Los Angeles-based wealth technology company providing cloud-based digital solutions for financial services, including client portals, dashboards, portfolio accounting, rebalancing, and trading engines, with a focus on end-to-end wealth management platforms. The company originated from a merger involving LightPort, which had over 700 clients at the time, a client count that remained similar years later. In 2015, InvestCloud raised $45 million in a Series B round on approximately October 8, led by FTV Capital and Kern Whelan Capital. This was part of total funding reaching around $54 million by later years, with additional investors including Clearlake Capital Group and Motive Partners. Post-2015, InvestCloud expanded internationally by acquiring London-based Babel Systems in 2017 for $20 million, adding capabilities in portfolio accounting, rebalancing, trading, and multi-currency support for clients in the UK, Europe, and APAC. The company aimed to grow from client portals to comprehensive platforms like InvestCloud White. Other backers included Polaris Capital Management and The Conifer Group. |
| Oct 2013 | Series A | Kern Whelan Capital (lead); Polar Capital Management; Altos Ventures | $9M | - |
Who has invested in InvestCloud?
4 investors have backed InvestCloud across its funding rounds, including Kern Whelan Capital, Altos Ventures, FTV Capital and Polar Capital Management.
Lead investors include FTV Capital and Kern Whelan Capital.
InvestCloud Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| United States | 2 | Lead | Oct 2013 | |
 Toronto | 1 | Participant | Oct 2013 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by InvestCloud
InvestCloud has acquired 5 companies to date.
Last acquisition by InvestCloud was on May 5th 2021. InvestCloud acquired Advicent Solutions for undisclosed valuation.
Latest Acquisitions by InvestCloud
| Description | - | Finantix is an Italian financial-software company based in Venice that builds front-office technology for private banks, wealth managers and insurers. Its product is a suite of software components, accelerators, APIs and engines that digitise sales, client onboarding, investment advice, product origination and servicing across channels and devices, for clients ranging from mass-affluent to ultra-high-net-worth; it demonstrated its Banking Assistant tool at FinovateEurope 2013. Clients have included Rothschild Bank, Crossbridge Capital and DBS, and the company earns licence and implementation revenue from these financial institutions. Finantix was founded in 1994 by Ralf Emmerich and Alessandro Tonchia. In March 2018 it bought Singapore-based Smartfolios, a maker of quant-enabled investment tools, and by the end of that year it had more than 250 specialists in seven cities and customers in more than 45 countries. In December 2018 the fintech private equity firm Motive Partners agreed to acquire a controlling interest to fund expansion in Europe, Asia and into the United States, with the founders continuing to run the business. In February 2021 Motive contributed Finantix, together with Tegra118, into InvestCloud as part of a recapitalisation valuing InvestCloud at $1 billion, with Finantix adding private-banking strength in Europe and Asia; the combined wealth platform had more than $4 trillion of assets on it. | Tegra118 is a US wealth and asset management technology company formed in February 2020 from the Investment Services business of Fiserv. It builds modular software that wealth firms can buy a la carte for tasks such as financial planning, performance reporting and fee billing, backed by large-scale account processing, and its APL software connects asset managers with a broad network of broker-dealers and registered investment advisers. Its customers are broker-dealers, wirehouses, asset managers and advisory firms, which pay recurring software and processing fees. Private equity firm Motive Partners paid US$510 million after tax for a 60% stake while Fiserv kept 40%; Fiserv's Cheryl Nash became chief executive and Motive founder Rob Heyvaert executive chairman, and the name refers to the 118 known chemical elements. In June 2020 Tegra118 made its first acquisition, buying RetireUp, a 14-person retirement income planning software firm in Libertyville, Illinois founded in 2012. In February 2021 Motive combined Tegra118 and the private-banking software firm Finantix with InvestCloud in a recapitalisation valuing the group at about US$1 billion; the enlarged company reported more than US$4 trillion of assets on its platform, US$285 million of revenue and over 900 employees. | rplan is a London-based online service providing unbiased financial planning tools for individuals. Users access calculators for retirement projections, investment portfolios, and tax optimization based on UK regulations. The platform aggregates data from pension providers and banks for personalized scenarios without sales pitches. Launched in 2018, rplan serves UK residents seeking independent advice. | |
| HQ Country | |  | |  | |
| HQ City | - | Venice | Warren, NJ | London | |
| Deal Date | 5 May 2021 | 2 Feb 2021 | 2 Feb 2021 | 11 Jun 2018 | |
| Valuation | undisclosed | undisclosed | undisclosed | $20M | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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InvestCloud Competitors
InvestCloud competitors include listed companies like Bravura Solutions, iFAST Corp, Leonteq and Abaxx Technologies, and private ones like Credit Sesame and Farther.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Australia | Publicly listed | $196M | $53M | $1.1B | 5.1x | |
 Singapore | Publicly listed | $348M | $105M | $1.9B | 1.9x | |
 Switzerland | Publicly listed | $219M | $12M | $428M | 7.1x | |
| Canada | Publicly listed | $746K | ($28M) | $396M | 91.1x | |
| San Francisco, CA | Private | - | - | $1B | - | |
| San Francisco, CA | Private | - | - | $1B | - |
InvestCloud Public Comps
InvestCloud is no longer listed, but its public comps include Monex Group, Bravura Solutions, PEXA Group, Shenzhen Sunline, Fujian Apex Software, Flow Traders, Vitec Software, Mitek Systems, Intellect Design Arena Ltd and Optasia.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $568M | $186M | 2.4x | 2.8x | 7.4x | 31.4x | |||
| $196M | $53M | 5.2x | 5.1x | 19.3x | 17.4x | |||
| $282M | $98M | 3.6x | 3.6x | 10.4x | 10.0x | |||
| $294M | $14M | 3.8x | 3.2x | 76.6x | 48.7x | |||
| $87M | $28M | 7.9x | 8.0x | 24.3x | 24.9x | |||
| $890M | $243M | 7.1x | 10.6x | 25.9x | 26.3x | |||
| $370M | $150M | 4.1x | 4.0x | 10.2x | 10.1x | |||
| $180M | $37M | 4.1x | 3.7x | 19.8x | 11.0x | |||
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Common questions about InvestCloud
| When was InvestCloud founded? | InvestCloud was founded in 2010. |
| Where is InvestCloud headquartered? | InvestCloud is headquartered in Los Angeles, CA, United States. |
| Is InvestCloud publicly listed? | No, InvestCloud was acquired by Motive Partners, Clearlake Capital, Accenture and 2 other investors in February 2021. |
| Who acquired InvestCloud? | InvestCloud was acquired by Motive Partners, Clearlake Capital, Accenture, Citi Ventures and Fiserv in February 2021. |
| How much was InvestCloud acquired for? | InvestCloud was acquired for $1B in February 2021. |
| How much funding has InvestCloud raised? | InvestCloud has raised $54M across 2 funding rounds. |
| What was InvestCloud's last funding round? | InvestCloud's last funding round was a $45M Series B in October 2015, led by FTV Capital and Kern Whelan Capital. |
| Who are InvestCloud's investors? | InvestCloud's investors include Kern Whelan Capital, Polar Capital Management, Altos Ventures and FTV Capital. |
| Which companies are comparable to InvestCloud? | Companies comparable to InvestCloud include Bravura Solutions, iFAST Corp, Leonteq, Abaxx Technologies, Credit Sesame and Farther. |
| How many companies has InvestCloud acquired? | InvestCloud has acquired 5 companies, including Advicent Solutions, Finantix, Tegra118, rplan and Babel Systems. |
| What was the largest acquisition by InvestCloud? | The $20M acquisition of rplan in June 2018 is the largest acquisition InvestCloud has made to date. |
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