This week, Sightglass, an AI-powered investor relations platform for private markets, announced it has raised a $3 million seed funding round led by Base10 Partners. Sightglass was founded by Thomas Buley, who was most recently the VP of product at Guideline. The company will use the funding to accelerate product development and expand its market presence.
“Sightglass was founded to bring greater transparency, trust, and efficiency to the private markets,” said Buley. “As institutional investors are committing record amounts of capital to alternatives, they’re demanding greater transparency from their investment managers. Sightglass facilitates that information flow from our AI-powered data rooms during fundraising through automating responses to ongoing due diligence questionnaires.”
The company launched in March, claiming customers quickly saw more than 90% time savings when responding to investor information requests during fundraising. Sightglass has since expanded its product offerings to help venture capital firms collect diversity metrics from their portfolio companies to share with their limited partners and to meet new reporting requirements from the state of California.
“Sightglass is revolutionizing GP-LP workflows by automating processes, starting with DDQs and expanding across the full spectrum of interactions. This enables faster closings, fosters deeper transparency, and drives significant efficiency gains, transforming how GPs and LPs engage and build lasting partnerships,” said Adeyemi Ajao, co-founder and managing partner at Base10 Partners. “Thomas and the Sightglass team are addressing a critical pain point in private markets. GPs are under pressure to deliver greater transparency, while LPs demand accountability, so much so that the Base10 team now uses Sightglass to deliver our own higher standard of transparency, trust, and meaningful collaboration between Base10 and our LPs,” continued Ajao.
Founded in 2022, Sightglass was originally incubated inside of Base10 Partners, with the founding team working closely with the firm to develop the initial versions of the product. Base10 is a Sightglass customer.