Canoe Intelligence, a document workflow automation platform for alternative investment managers, raised USD 36 million in a Series C funding round led by Goldman Sachs Alternatives, with participation from existing investors F-Prime Capital and Eight Roads. The funding value of Canoe is over 3x its Series B valuation, bringing its total funding to USD 61 million.
The company plans to use the funds to further develop its proprietary AI/ML technology.
Canoe Intelligence offers a platform for users to automate manual processes associated with document and data management related to alternative investments. Users can collect documents from various sources, such as investor portals and email inboxes, and then automate the categorization and extraction of relevant data points. Moreover, the platform validates the data and directly delivers clean, actionable insights to users' enterprise data management systems.
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