Canoe Intelligence marks this year-over-year growth milestone with a rebrand, expanded mission statement, and plans for an expanded product suite. In this new chapter, Canoe seeks to further elevate the industry standard for alternative investment management.
LONDON & NEW YORK–(BUSINESS WIRE)–Canoe Intelligence (“Canoe”), the financial technology company powering alternative investment intelligence, for institutional investors and wealth managers, today announced that it has achieved a 100% increase in YoY revenue growth on the back of continued expansion globally.
The announcement follows the completion of Canoe’s $25m Series B financing round in February 2023, which has supported Canoe’s ability to broaden its footprint in European markets, grow the team in key functional areas, enhance enterprise product offerings, and strengthen Canoe’s core platform.
To mark this growth milestone, Canoe is launching a new brand platform and identity as the firm cements its position as the industry leader in alternative data management. The company’s new brand platform centers around the idea of “Alts, smarter”, enabling clients, partners, and the industry with the technology, data and insights to manage alternative assets faster, more accurately, and more confidently.
Canoe is advancing operational excellence through the expansion of its platform and product suite. This next iteration of Canoe Intelligence will feature comprehensive workflow management tools for alts documents and data across the front, middle and back offices, expansion of coverage to additional datasets key to unlocking insights in the front office, a more integrated and connected ecosystem across GPs, LPs and Administrators, and unique data and research offerings to support these stakeholders. This development builds on key platform infrastructure enhancements, insights driven by Canoe’s unique Shared Intelligence, and a mission to manage alts smarter.
Jason Eiswerth, CEO of Canoe Intelligence, said: “Demand for greater command of private market investment data and more efficient processes has fueled Canoe’s rapid growth to date, bringing us to today’s pivotal milestone. This is the start of a new chapter, as we build on our progress, expand our offering, and guide the industry forward – providing sophisticated investment firms with a smarter way of approaching alternatives.
“Looking ahead, we are developing complementary solutions to our core offerings, spring-boarding off our industry-leading technology to expand into products and data sets suitable for broader audiences. This will allow new teams and business units to reap the benefits of more streamlined workflows and a smarter approach to alternatives data. Our consistent growth is proof of the effectiveness of our technology, providing a launchpad for us to take Canoe Intelligence to the next level.”
As institutions across North America, Europe, and Asia increasingly harness private market investment data—automating previously time-consuming manual processes and streamlining workflows—Canoe has achieved five consecutive years of revenue growth. To date, revenue in 2023 has been driven by a significant increase in client numbers, growing to over 250 firms, including global banks, allocators, pensions, asset servicers, private equity firms, asset managers, wealth managers, and family offices.
To meet surging demand, Canoe has invested in global operations over the past 12 months – increasing its headcount to 125 employees worldwide and opening a new office in London as the business pushes into Europe.
About Canoe Intelligence
Canoe Intelligence redefines alternative investment data processes for hundreds of leading institutional investors, capital allocators, asset servicing firms, and wealth managers. By combining industry expertise with the most sophisticated data capture technologies, Canoe’s technology automates the highly frustrating, time-consuming, and costly manual workflows related to alternative investment document and data management, extraction, and delivery. With Canoe, clients can refocus capital and human resources on business performance and growth, increase efficiency, and gain deeper access to their data. Canoe’s AI-driven platform was developed in 2013 for Portage Partners LLC, a private investment firm. The company discusses wealth management, institutional investment, and technology topics on its blog. Learn more at www.canoeintelligence.com.
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