Accelex secures $15m in Series A for private market data acquisition

Accelex, a front-runner in AI-powered automation for private market data acquisition, reporting, and analytics, has successfully closed a $15 million Series A funding round. This significant financial milestone, led by the global financial digital platform FactSet, also saw participation from earlier investors Illuminate Financial, AlbionVC, SixThirty Ventures, and Expon Capital.

Enhancing Operations and Product Capabilities at Accelex Post-Funding

The funding surge arrives amidst a phase of rapid growth for Accelex, earmarked to broaden its operational scope, augment product functionalities, and deliver superior client outcomes. This investment not only reinforces Accelex’s growth trajectory but also fortifies its ongoing collaboration with FactSet, integral to the latter’s strategy for escalating its private markets segment.

Transforming Private Market Investment Analysis and Decision-Making

In a market traditionally bogged down by unstructured data and manual, error-prone processes, Accelex’s advanced data science is a game-changer. It streamlines and automates the entire spectrum of tasks, from document collection and data extraction to intricate reporting and analytics in the private markets sector. This collaboration between FactSet and Accelex is set to inject innovation into the alternative assets industry, aiding clients in comprehensively understanding investment performance drivers.

“Data-driven decision-making is critical for our clients, particularly as their portfolios increase in exposure to private capital, where the acquisition, aggregation, and analysis of investment data has been a challenge,” highlighted Rob Robie, Executive Vice President, Head of Institutional Buyside at FactSet. Michael Aldridge, President at Accelex, echoed these sentiments, emphasizing the enhanced leadership and service provision in alternative investment data management and analytics.

Accelex’s Growth and Client Base Expansion

In the last two years, Accelex has experienced a remarkable growth spurt, significantly broadening its client base, including asset owners, allocators, servicers, and service providers. These clients manage assets exceeding $1.5 trillion, distributed across over 13,000 private market funds and 4,000 asset managers.

Legal advisory roles in this funding round were played by Zelig Capital Partners and Goodwin Procter LLP for Accelex, with Mills & Reeve LLP representing FactSet, marking a new chapter in Accelex’s journey towards transforming private markets data management through AI automation and analytics.