Rapid growth for Cobalt portfolio monitoring platform highlights demand for better technology to address private capital investors, management
Cobalt Software Inc (“Cobalt”), a leading portfolio monitoring solutions provider for the private capital industry, announced the appointment of iLevel co-founder Hank Boggio to the newly created position of Chief Commercial Officer. In this role, Boggio will draw on his deep industry expertise to lead Cobalt’s commercial activities, including driving further critical client acquisition efforts for the company.
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“Hank brings to Cobalt valuable depth of knowledge in sales, marketing, and business development in the private capital portfolio monitoring space, a fundamental part of the industry’s technology stack. We are thrilled to have an executive of his caliber join our team as we strive to meet high demand in a growing sector,” said Cobalt CEOÂ Jason Weinstein. “Our clients are working overtime to respond to an increasingly urgent call from investors and management alike for reliable reporting at the click of a button. I am energized to scale the Cobalt solution through the rest of 2020 and beyond.”
The announcement comes as Cobalt has achieved significant growth through client signings and critical product enhancements in the first half of 2020.
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Clients Cobalt has signed during that period, the majority focused on portfolio monitoring, include:
- American Family Insurance (AmFam), the private insurance firm with direct investing
- Heritage Group, the healthcare venture capital firm
- Hastings Equity Partners, the energy sector buyout firm
- Kainos Capital, the food and consumer sector-focused private equity firm
- Liberty Hall Capital Partners, the global aerospace and defense-focused private equity firm
- Underscore.vc, the venture capital firm
- Valor Ventures, the venture capital firm
During the same period, Cobalt has also launched the following additions to its portfolio monitoring platform:
- Critical integration tools, including an Excel plug-in and open API, to allow users to integrate more deeply with existing workflows, and more easily connect Cobalt with other systems.
- Data enhancements, including calculated metrics, which allow users to create custom calculations from portfolio metrics (e.g. leverage ratios, such as net debt/EBITDA).
- Security and user management tools, including single sign-on, which simplifies user access and platform use.
- Governance-enablement tools, including audit trails to track changes across reports and databases in a central location, ensuring data quality and accuracy.
