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FundGuard Highlights Key Growth Milestones

NEW YORK, BOSTON and TEL AVIV — July 19, 2022 — FundGuardthe AI-powered SaaS investment management and asset servicing enterprise platform, continues to drive rapid growth, more than doubling its global team across the U.S., Canada and Israel in the last 12 months, alongside significantly growing their platform and service offering, as well as the addition of key new strategic investors. The company’s growing leadership team includes multiple technology innovators and industry leaders who have joined recently and will support the firm’s mission to transform the way the asset management and asset servicing industries manage their portfolios.

With total investment of over $55 million to date, FundGuard has seen significant growth, particularly since its early 2021 Series A investment round. CEO and Co-founder Lior Yogev comments: “The journey has been extraordinary so far. We’ve built a transformational product that has been welcomed with delight and a lot of excitement from the world’s leading asset managers and fund administrators, and we have assembled an incredible team of industry leaders and enterprise cloud technology experts. As a result, we have been able to attract new customers, important strategic investors, and an ever-growing pool of strong talent. All of this reflects a market that has been ripe for transformation and an understanding that legacy systems are simply no longer fit for purpose. The support of the industry, our clients and our investors has been phenomenal and is key to helping the hard-working FundGuard team drive the fundamental change that is necessary now.”

Growing the team and achieving the right blend of technology and financial industry experience has been central to FundGuard’s success to date. The appointment of John Lehner as President with a remit to drive the firm’s go-to-market strategy and client-facing activities, was the first in a series of

  • Erika Alter, Marketing
  • Ted Anderson, Customer Onboarding
  • Omer Ben-Bassat, Product Management
  • Li Carmel, Human Resources
  • Elad Dotan, Cloud Operations
  • Anthony Marusco, Customer Onboarding
  • Akha Mathews, Sales Engineering
  • Jonathan Reid, Customer Onboarding
  • Robert West, Customer Onboarding
  • Amnon Zur, Finance and Administration

These additions to the leadership team all bring significant experience across financial services and technology, with previous experience that collectively includes Microsoft, Citi, Vanguard, BNY Mellon, CIBC Mellon and IHS Markit.

The team’s success can be seen in new clients and strategic partners across the industry, including the below-referenced strategic investments by Citi and State Street and collaboration with Ultimus Fund Solutions, which recently announced that it is now offering its investment manager clients an enhanced contingent NAV solution utilizing FundGuard’s platform.

This growth has been fueled by support from leading investors via Series Seed (October 2018, $4.5M), Series A (February 2021, $12M) and Series B (April 2022, $40M). In particular, the addition of Citi, State Street, and additional banks as strategic partners during the Series B funding round has been important in establishing FundGuard as part of the industry’s infrastructure. They joined existing investors, Team8 Capital, Blumberg Capital, LionBird Ventures and individual investors such as Heidi Miller, Jack Klinck and Jay Mandelbaum.

“The support of leading investors and strategic partners, as well as the industry as a whole cannot be underestimated,” says John Lehner, President, FundGuard. “Our team and our investor base both include seasoned financial services industry experts alongside cloud, AI and machine learning technology specialists. Our platform is on track to act as the underpinning for the fund management industry as it adapts to the increased need for real time information on diverse portfolios, along with reduced costs and increased transparency for the ultimate benefit of the end investor.”

About FundGuard
FundGuard is a next-generation SaaS platform for investment management and administration that is powered by AI. FundGuard helps asset managers and fund administrators to manage mutual funds, ETFs, hedge funds, insurance products, and pension funds, supporting digital transformation, operations automation, AI-based insights, resiliency, and migration to the cloud. FundGuard is backed by strategic partners including Citi and State Street, venture firms Blumberg Capital, LionBird Ventures, and Team8 Capital among others, as well as industry executives Heidi Miller, Jack Klinck, Jay Mandelbaum and others.

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