Financial Data and analytics solutions, Canalyst secured $70 Million in Series C funding


Canalyst, a New York-based provider of financial data and analytics solutions, has recently secured $70 million in a Series A funding round.

Canalyst was founded by Damir Hot. It combines software with human expertise to create accurate and detailed financial and KPI data on global public companies, which gives financial professionals access to fundamental data that can be trusted absolutely and at scale.

It was founded in the year 2015 and employed around 200 people with offices in Vancouver and New York.

Executive Opinion

Christian Jensen, Partner and Co-Head of Private Investments at Dragoneer, said, "Canalyst's data moat is substantial and will continue to compound. We're excited to partner with the Canalyst team as they continue to build a remarkable business centered around a product that customers truly love."

Damir Hot, Canalyst's CEO and co-founder, said, "Everyone in capital markets knows how critical, yet time consuming and error prone, structuring quality financial data is. We're obsessed with solving that problem and are proud to have earned the trust of some of the world's most sophisticated investors, first as clients and now as shareholders. This investment is an important step in our journey toward becoming the new fundamental dataset of record."

Canalyst latest funding

The round was backed by the Dragoneer Investment Group with participation from Canada Pension Plan Investment Board and Alta Fox capital.

The analytics startup, as of now, has plans to use the new funds to double its global headcount to further invest in product development and delivery, customer support and global expansion, notes the announcement.
PC: Pixabay

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Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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