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FundGuard Secures $100M in Series C Funding for AI Accounting Platform

FundGuard, an AI accounting startup, has raised $100 million in fresh funding. The investment, led by Key1 Capital, with participation from Euclidean Capital LLC and Hamilton Lane, signals confidence in FundGuard's innovative approach. FundGuard addresses the outdated accounting systems prevalent in asset management with its AI-powered cloud-based platform.

Founded in 2018, FundGuard has focused on developing cutting-edge AI-powered investment management software. This funding round, undisclosed in terms of valuation, aims to expand its customer base and drive product innovation. The involvement of established investors like State Street underscores the industry's recognition of FundGuard's potential to address critical issues in asset management.

FundGuard's co-founder Amit Pilowsky highlighted the challenges asset managers face with outdated accounting software, emphasizing the necessity for modern solutions. With offices across Tel Aviv, New York, Boston, London, and Toronto, FundGuard is poised to revolutionize accounting practices across various financial sectors.

The funding infusion enables FundGuard to continue its mission of providing advanced AI solutions for asset management. By leveraging cloud computing and AI technologies, FundGuard aims to streamline operations, minimize errors, and enhance reporting timeliness for asset managers globally.