Gridline, a technology provider for advisory firms managing private market investments, has raised $18.5m in Series A funding.
The round, led by FINTOP, is set to speed up the company’s development of its platform aimed at consolidating and automating private market investment processes.
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The investment will be used to advance features on Gridline’s platform, with immediate focus on AltComply, an AI-powered due diligence tool.
AltComply is designed to automate the processing of documents, standardise analysis procedures, and identify potential risks, with the aim of improving efficiency and consistency when reviewing private investments.
Gridline plans to increase its workforce across engineering, commercial, operations, and fund administration departments.
Gridline co-founder and CEO Logan Henderson said: “We built Gridline as an end-to-end platform advisors can rely on to run private market programmes with confidence and consistency.
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By GlobalData“By owning the underlying data infrastructure, we keep information standardised, up-to-date, and actionable, so firms have accurate insights in one place, exactly when they need them. That foundation delivers the intelligence, control, and reliability advisors have been missing in private markets.”
The company provides a single platform for advisory firms to manage the full lifecycle of private market operations, covering tasks such as investment review, onboarding, transaction execution, oversight, and reporting.
According to feedback from users, the platform has contributed to reductions of up to 90% in time spent on manual reconciliation and savings of 10 to 30 hours per investment in due diligence and monitoring work, noted the company.
Gridline works with registered investment advisers, multi-family offices, and private banks in their efforts to manage and expand private market investment programmes.
