Canoe Intelligence Completes Record Year by Tripling Annual Revenue, Doubling Its Client Base, and Adding New Key Executives
Canoe’s technology for alternatives data and document management has quickly become the industry’s standard way for alternative investors and allocators to scale and differentiate their businesses.
NEW YORK–(BUSINESS WIRE)–Canoe Intelligence (“Canoe”), a financial technology company redefining data management processes for alternative investors and allocators, today announced a record 2021 year by tripling its revenue, doubling its client base and employee headcount and adding key executives to the team.
Commenting on the successful year, Canoe CEO Jason Eiswerth said: “The results experienced in 2021 were driven by support from our clients, investors and partners; rigor in our product development process and significant evolution of our technology; and our collective determination to redefine alternatives data management for the investment industry. More than 125 clients are now relying on Canoe’s shared intelligence and fund master database to streamline their entire data and document processes. Through strategic client council dialogue and ongoing user feedback, our clients remain integral to our product development and prioritization process, and our expanded team has worked together to expedite client onboardings, and help our clients start seeing efficiencies in terms of time savings and return on technology investment faster.”
Among the many milestones that Canoe achieved in 2021 were:
- Appointing Blackstone veteran Vishal Saxena as Chief Technology Officer (more)
- Appointing Toby Bailey as Vice President of Sales, EMEA and opening an office in London (more)
- Hiring key talent to support business growth and product development, including Josh Whitcraft as Vice President, Commercial Strategy and Operations, and Matt Wilkinson, Vice President of Engineering
- Securing Series A extension funding from clients Blackstone, Carlyle, and existing client and investor Hamilton Lane (more)
- Doubling client base from last year across wealth management and institutional segments
- Adding State Street (more) to our client roster, among others
- Expanding coverage to 14,000+ funds, processing 3M+ documents, extracting 10M+ data points and having a combined AUA across clients of more than $50T
- Partnering with leading downstream systems including Holland Mountain (more), Alter Domus (more), Amplify Advisory Partners (more), and others
- Receiving recognition from Family Wealth Report (more), Wealthmanagement.com (more), Financial Services Forum (more), The Drawdown (more) and Built In NYC (more) for our innovations in the space
- Doubling the size of our team with new hires in engineering, product management and design, client success, sales, and operations roles
- Publishing a research report about the role of technology in managing alternative investments (more)
Jason continued: “I am very proud of our team and thankful for all their hard work that led to our many great accomplishments in 2021. I’m also extremely grateful to our clients, who instill their trust in us to help them improve their operations and grow their businesses. We’re looking forward to 2022 and building on our great momentum.”
For 2022, Canoe plans to enhance its offering by expanding the breadth of documents and document types supported, adding new functionality and reporting capabilities, building new features and tools, and continuing to make alternative investment data available to clients in ways that drive value and impact to our clients’ bottom line. Finally, we expect to continue our expansion geographically and to hire additional top talent in technology, machine learning and data science.
ABOUT CANOE INTELLIGENCE
Canoe Intelligence redefines alternative investment data processes for hundreds of leading institutional investors, capital allocators, asset servicing firms and wealth managers. By combining industry expertise with the most sophisticated data capture technologies, Canoe’s technology automates the highly-frustrating, time-consuming, and costly manual workflows related to alternative investment document and data management, extraction and delivery. With Canoe, clients can refocus capital and human resources on business performance and growth, increase efficiency, and gain deeper access to their data. Canoe’s AI-driven platform was developed in 2013 for Portage Partners LLC, a private investment firm. www.canoeintelligence.com
Betsy Miller Daitch