Private investment management platform Arch has raised $20 million in a Series A funding round led by Menlo Ventures.
Craft Ventures, Quiet Capital, investors Carta, Citi Ventures, GPS Investment Partners and Focus Financial Partners joined the round.
Arch's portal is designed to modernise K-1 workflows, automate operations and simplify reporting for single and multi-family offices, wealth management firms, accounting firms, banks, and institutions.
It currently tracks tens of thousands of positions, encompassing more than $60 billion in investments across the universe of alternative asset classes. Its client- and advisor-facing platform aggregates data and documents across every investment, eliminating the need for users to access third-party portals, and delivers reporting-ready data directly to investors, accountants and advisors.
The firm has now raised $25 million in funding over the last two years, tripled its headcount in 12 months and signed up nearly 200 families, investment firms and institutions, including one of the largest US banks.
The latest capital injection will be used to further expand Arch's team and enhance its product, with a focus on streamlining the repetitive manual work traditionally associated with investing in and managing alternative investments.
“Actionable, insightful data is the foundation of smart investment decisions,” says Ryan Eisenman, CEO, Arch. “That's why we built Arch - to meet the complex needs of private investors, financial advisors, banks and institutions, equipping them with a platform to efficiently manage and understand their private investments."