AI SaaS Investment Management Platform FundGuard secured $40 Million Series B funding

FundGuard, a New York-based provider of an AI-powered SaaS investment management and asset servicing enterprise platform, has now secured $40 million in a Series B funding round.

FundGuard was founded by Lior Yogev. It is a SaaS platform for investment management and administration that is supported by AI. It helps the fund administrators and asset managers to manage hedge funds, mutual funds, ETFs, pension funds, and insurance products, which supports the digital transformation, AI-based insights, operations automation, resiliency, and migration to the cloud.

Lior Yogev, FundGuard CEO and co-founder, said, "Having the world's leading financial services organizations join us as strategic partners and investors is an exciting endorsement of our vision to build a new generation of global asset servicing capabilities; for asset managers and their service providers."

FundGuard President John Lehner said, "By harnessing the cloud and AI, our technology enables our clients to be more cost-effective and offer new and innovative products at scale. This new investment will allow us to accelerate our growth and continue to attract top talent so that we can meet the demand we are seeing from asset managers and service providers who realize their legacy technology, simply put, costs too much and can't do what they need it to do."

The round was backed by State Street Corp and Citi, with participation from LionBird Ventures, Blumberg Capital, and Team8 Capital.

This new Series B funding round brings the total investment in FundGuard to more than $55 million in 3.5 years.

The company, as of now, has plans to use the new funds to accelerate growth and continue to attract talent.