Investment Signals Continued Rapid Growth for the Financial Data Company
Canalyst, a leading provider of financial data and analytics, has raised $70M in a Series C financing led by Dragoneer Investment Group. Canalyst customers Canada Pension Plan Investment Board (CPP Investments) and Alta Fox Capital participated, along with existing investors HighSage Ventures, Vanedge Capital, and ScaleUP Ventures.
Canalyst combines software with human expertise to create the most accurate and detailed financial and KPI data on global public companies, giving finance professionals access to fundamental data that can be trusted absolutely and at scale. Today, over 400 of the world’s top investment managers, banks, and corporations use Canalyst models, data, and APIs as an essential part of their workflow.
“Canalyst’s data moat is substantial and will continue to compound,” said Christian Jensen, Partner and Co-Head of Private Investments at Dragoneer. “We’re excited to partner with the Canalyst team as they continue to build a remarkable business centered around a product that customers truly love.”
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Initially built for public equity managers, Canalyst’s product offering has expanded to serve global investors focused on credit, private equity, and venture capital in addition to investment banks, consultancies, and the corporate market.
“Everyone in capital markets knows how critical, yet time consuming and error prone, structuring quality financial data is,” said Damir Hot, Canalyst’s CEO and co-founder. “We’re obsessed with solving that problem, and are proud to have earned the trust of some of the world’s most sophisticated investors, first as clients and now as shareholders. This investment is an important step in our journey toward becoming the new fundamental dataset of record.”
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To meet customer demand, Canalyst expects to double its global headcount this year to further invest in product development and delivery, global expansion, and customer support.
“Canalyst represents an opportunity to invest in a differentiated financial technology company with a unique product offering. We look forward to participating in the company’s growth as a new investor,” said Delaney Brown, Managing Director and Head of Funds & Secondaries, CPP Investments.
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