Investment Signals Continued Rapid Growth for Financial Data Company
NEW YORK, January 18, 2022 /PRNewswire/ — Canalyst, a leading provider of financial data and analytics, has raised $70 million in a Series C financing led by Dragoneer Investment Group. Canalyst clients Canada Pension Plan Investment Board (CPP Investments) and Alta Fox Capital participated, along with existing investors HighSage Ventures, Vanedge Capital and ScaleUP Ventures.
“Canalyst’s data gap is substantial and will continue to grow.”
Canalyst combines software with human expertise to create the most accurate and detailed financial and KPI data on global public companies, giving finance professionals access to fundamental data that can be absolutely trusted at scale. . Today, more than 400 of the world’s largest investment managers, banks and corporations use Canalyst’s models, data and APIs as an essential part of their workflow.
“Canalyst’s data gap is substantial and will continue to grow,” said Christian Jensen, partner and co-head of private investments at Dragoneer. “We are thrilled to partner with the team at Canalyst as they continue to build a remarkable business focused on a product that customers truly love.”
Originally designed for public fund managers, Canalyst’s product offering has expanded to serve global investors focused on credit, private equity and venture capital, in addition to investment banks, law firms consultancy and the business market.
“Everyone in capital markets knows how critical, yet time-consuming and error-prone, quality financial data structuring is,” said Damir Hot, CEO and co-founder of Canalyst. “We are obsessed with solving this problem and are proud to have earned the trust of some of the most sophisticated investors in the world, first as clients and now as shareholders. This investment is an important step in our journey to become the new fundamental data set of registration.”
To meet customer demand, Canalyst plans to double its global workforce this year to invest more in product development and delivery, global expansion and customer support.
“Calyst represents an opportunity to invest in a differentiated fintech company with a unique product offering. We look forward to participating in the company’s growth as a new investor,” said Delaney Brown, Managing Director and Head of Funds and Secondary, CPP Investments.
About Canalyst
Canalyst is the leading destination for public company data and analysis. The company’s SaaS platform provides instant access to the cleanest, richest and best structured fundamental data and models on global public companies. Hundreds of companies in financial services and corporate markets around the world trust Canalyst to reduce redundant work and base their financial analysis on solid fundamental data. Founded in 2015, Canalyst employs 200 people with offices in New York and Vancouver. Visit canalyst.com to start a trial or find out how to join the Canalyst team.
About Dragoneer Investment Group
Dragoneer is a growth-oriented investment firm with over $25 billion in long-term capital. Dragoneer has a history of partnering with leadership teams building exceptional businesses characterized by sustainable differentiation and superior business models. The company’s balance sheet includes public and private investments across all industries and geographies, with a particular focus on technology-focused companies. Dragoneer has invested in companies such as Airbnb, Alibaba, Atlassian, AppFolio, Bytedance, Ceridian, Chime, Datadog, Doordash, Duck Creek, PointClickCare, Procore, Slack, Samsara, ServiceTitan, Snowflake, Spotify, Uber, UiPath and others.
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