LONDON, Nov. 2, 2023 /PRNewswire/ -- Accelex, a leading
provider of AI automation for private markets data acquisition,
reporting and analytics, announced today it has closed a
$15 million Series A funding round
led by FactSet, a global financial digital platform and enterprise
solutions provider, with participation from existing investors
Illuminate Financial, AlbionVC, 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. This transaction strengthens the relationship between the
two firms, with Accelex's technology already a key enabler in
FactSet's private markets growth strategy.
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. FactSet and Accelex are
bringing innovation to the alternative assets industry, ultimately
providing clients with solutions to better understand the drivers
of investment performance.
"Data-driven decision-making is critical for our clients,
particularly as their portfolios increase in exposure to private
capital, where the acquisition, aggregation, and analysis of
investment data has been a challenge," said Rob Robie, Executive Vice President, Head of
Institutional Buyside at FactSet. "We are thrilled to partner
with Accelex on this journey to bring innovative solutions to
private markets, united by our shared commitment to empowering the
alternative investment community with superior data and analytics,
enabling better investment outcomes."
"This partnership will solidify our position as a leader in the
alternative investment data management and analytics space," added
Michael Aldridge, President at
Accelex. "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."
"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.
Zelig Capital Partners acted as financial advisor and Goodwin
Procter LLP acted as legal advisor to Accelex. Mills & Reeve
LLP acted as legal advisor to FactSet.
About Accelex
Founded in 2018, Accelex provides data acquisition, analytics
and reporting solutions for alternative investors and asset
servicers, enabling firms to access the full potential of critical
investment performance and transaction data. Powered by proprietary
artificial intelligence and machine learning techniques, Accelex
solutions automate processes for extraction, analysis and sharing
of difficult-to-access unstructured data. Accelex is headquartered
in London, with offices in
Paris, Luxembourg, New
York, and Toronto. Find out
more at www.accelextech.com and follow Accelex on
LinkedIn.
About FactSet
FactSet (NYSE:FDS | NASDAQ:FDS) helps the financial community to
see more, think bigger, and work better. Our digital platform and
enterprise solutions deliver financial data, analytics, and open
technology to nearly 8,000 global clients, including almost 190,000
individual users. Clients across the buy-side and sell-side as well
as wealth managers, private equity firms, and corporations achieve
more every day with our comprehensive and connected content,
flexible next-generation workflow solutions, and client-centric
specialized support. As a member of the S&P 500, we are
committed to sustainable growth and have repeatedly scored 100 on
the Human Rights Campaign® Corporate Equality Index. We have been
recognized amongst the Best Places to Work in 2023 by Glassdoor as
a Glassdoor Employees' Choice Award winner. Learn more at
www.factset.com and follow us on Twitter and
LinkedIn.
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