DiligentIQ, the AI-powered platform for conducting private equity due diligence, has raised up to $12 million in a two-tranche Series A round led by FINTOP Capital and partner JAM FINTOP.
The investment will be used to scale DiligentIQ’s team and operations “as it expands its presence in private markets.”
It will also accelerate product innovation, “expand integrations, and scale go-to-market efforts.”
DiligentIQ is a generative AI platform that is tailored to support the nuanced needs of private market investment professionals “as they evaluate deal opportunities.”
The technology ingests deal documents typically found in virtual data rooms (VDRs) while “analyzing and categorizing them to extract critical insights.”
By delivering clear, actionable intelligence, and reducing the need for manual workflows, DiligentIQ says that it enables investment teams “to digest complex information and identify opportunities and risks with greater speed and accuracy.”
The company was founded by Ed Brandman, former Partner, Chief Information Officer and Head of Credit Operations “at global investment firm Kohlberg Kravis Roberts & Co. (KKR).”
After a career in private markets, Ed recognized the potential for generative AI to address the “tight time constraints and the vast amounts of data inherent in due diligence processes by streamlining analytical workflows.”
DiligentIQ is deployed across private equity firms, family offices and diligence advisory firms, including “HarbourVest Partners, Fortress Investment Group, Investcorp, and PPC Enterprises.”
As noted in the update, DiligentIQ is the provider of AI-powered private market due diligence solutions “being used by over 65 GPs, LPs and Family Offices.”
By combining artificial intelligence with private markets expertise, DiligentIQ helps investment professionals “conduct more thorough, efficient, and accurate due diligence.”
The company’s platform is “trusted” by private equity firms and diligence advisory firms to streamline their “due diligence processes while maintaining the highest standards of accuracy and compliance. For more information, visit www.diligentiq.com.”
FINTOP Capital is a venture capital firm focused “on early-stage fintech companies.”
With over $700 million in committed capital across five funds, FINTOP brings fintech founding and operating experience to the boardroom, “partnering with innovative entrepreneurs to push the frontiers of the financial services sector.”
JAM FINTOP is a joint venture “between JAM Special Opportunity Ventures and FINTOP Capital.”
The partnership brings together bank professionals and fintech entrepreneurs to invest in companies changing “the way financial institutions and their customers move, track, and interact with money.”
