Accelex, a leading provider of AI automation solutions for private markets data acquisition, reporting, and analytics, has successfully closed a $15 million Series A funding round led by FactSet, a global financial digital platform and enterprise solutions provider. Existing investors, including Illuminate Financial, AlbionVC, SixThirty Ventures, and Expon Capital, also participated in the round.
This funding injection aligns with Accelex’s rapid growth, enabling the company to expand its operations, enhance product capabilities, and ensure exceptional client success. The strategic investment strengthens the partnership between FactSet and Accelex, with Accelex’s technology serving as a key enabler in FactSet’s private markets growth strategy.
Investing in private markets often involves dealing with unstructured content, leading to challenges in data processing. Accelex leverages cutting-edge data science to automate end-to-end workflows, including document acquisition, data extraction, reporting, and analytics. By innovating in the alternative assets industry, FactSet and Accelex aim to empower clients with solutions that provide deeper insights into investment performance drivers.
Over the past 24 months, Accelex has experienced significant growth, attracting numerous top-tier asset owners, allocators, asset servicers, and service providers as clients. These clients collectively manage assets exceeding $1.5 trillion, invested in over 13,000 private market funds managed by 4,000 asset managers.
Zelig Capital Partners served as the financial advisor, and Goodwin Procter LLP acted as the legal advisor to Accelex. Mills & Reeve LLP acted as the legal advisor to FactSet.
Accelex, founded in 2018, specializes in data acquisition, analytics, and reporting solutions for alternative investors and asset servicers. The company utilizes proprietary artificial intelligence and machine learning techniques to automate processes related to the extraction, analysis, and sharing of challenging-to-access unstructured data. Accelex is headquartered in London and has offices in Paris, Luxembourg, New York, and Toronto.