Investment funds from Morgan Stanley Expansion Capital led the $34m Series C funding round for global analytics platform Vortexa.
Existing investors Notion Capital, Monashees, Metaplanet, FJ Labs and Communitas Capital also participated.
The funding round brings the total amount raised by Vortexa to more than $60m, which will be used to boost the company’s international expansion, technology and quality of service to its clients and partners.
Vortexa aids energy traders, market analysts, charterers and data scientists make real-time decision.
In addition, the scale, precision and speed of the information and analytics drive efficiency in the flows of energy globally.
Lincoln Isetta, managing director of Morgan Stanley Expansion Capital, said: “Vortexa has demonstrated impressive growth and capital efficiency since inception, and we are excited to partner with Fabio and his outstanding team to help take Vortexa to the next level. The increasing complexity of international energy and freight markets is accelerating customer demands for high-quality, real-time data and analytics. Many of the world’s largest and most sophisticated energy and freight market participants trust Vortexa to drive high-impact business decisions and we believe Vortexa is at the forefront of technological leadership in those markets.”
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Fabio Kuhn, CEO of Vortexa, added: “Despite one of the toughest fundraising environments for tech companies in the recent past, this funding round was significantly oversubscribed. Vortexa has doubled its valuation since its Series B funding round in 2021 and, having grown three times faster than the median SaaS business over the last year, is near profitability with an immense untapped market opportunity ahead. It is truly a privilege to partner with Morgan Stanley Expansion Capital. We have been extremely impressed with the caliber of the team, who saw past the complexity of the industries Vortexa serves and recognised our unique opportunity to create value and impact globally. I am excited to work with the Expansion Capital team to build the future of the company.”
In November 2023, the Morgan Stanley Next Level Fund (Next Level) reached its final close with a total of $50m in capital commitments, reported by Morgan Stanley Investment Management (MSIM).
Altria, Phalanx Impact Partners, Ten Figures Ventures, and Walmart, in addition to the original corporate partners, are among the investors.
With a focus on initial technology and tech-enabled businesses with underserved founding teams, Next Level, a $200bn alternative business of MSIM, builds on the experience of HearstLab and the Morgan Stanley Inclusive Ventures Lab.
Technology, consumer goods and retail, financial technology, healthcare, media and entertainment, and consumer products are among the target industries.