London-based Accelex, which specialises in AI automation for private markets data acquisition, reporting and analytics, announced that it has secured $15M (approximately €14M) in a Series A round of funding.
Founded in 2018, Accelex offers data acquisition, analytics, and reporting solutions for investors and asset servicers, using AI and machine learning to automate the extraction and analysis of unstructured data.
Accelex operates globally with offices in Paris, Luxembourg, New York, and Toronto.
Investors in this round
The funding was led by FactSet, a financial digital platform and enterprise solutions provider.
Additionally, existing investors including Illuminate Financial, AlbionVC, SixThirty Ventures, and Expon Capital also participated in the funding round.
Accelex says it will use the funds to expand its operations, enhance products, and ensure client success.
Franck Vialaron, Chief Executive at Accelex says, “We are delighted with the completion of this latest financing round with FactSet and the continued support from our financial partners. This further validates the Accelex team, our approach to innovation, and the unique value proposition we offer to our private markets clients.”
Accelex claims to have witnessed significant growth, expanding its client base to top-tier asset owners, allocators, and service providers. The combined assets of these clients exceed $1.5T, invested in over 13,000 private market funds managed by 4,000 asset managers.
Partnership with FactSet
The investment also strengthens the partnership between the two companies, with Accelex’s technology playing a vital role in FactSet’s private markets growth strategy.
Rob Robie, Executive VP and head of Institutional Buyside at FactSet says, “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.”
“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.”
Michael Aldridge, President at Accelex adds, “This partnership will solidify our position as a leader in the alternative investment data management and analytics space. 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.”
Accelex, with support from FactSet, claims to revolutionise private market investments by automating manual processes, ensuring transparency, and enhancing data accuracy.
Their approach streamlines workflows from document acquisition to reporting, addressing challenges in the alternative assets industry and empowering investors to better understand investment performance drivers.
Facts about FactSet
FactSet provides financial data, analytics, and open technology to nearly 8,000 global clients.
Its solutions cater to various sectors, including buy-side, sell-side, wealth managers, private equity firms, and corporations, enabling clients to enhance productivity and achieve their goals with flexible workflow solutions.