Leader in private markets technology for institutional
investors plans to leverage new investment to continue
product expansion and support global growth
NEW
YORK, Oct. 11, 2022 /PRNewswire/ -- Chronograph,
a leading private markets technology company, today announced a
'Series X' funding round led by global growth equity investor
Summit Partners. Existing investors Carlyle (NASDAQ: CG) and Nasdaq
Ventures also participated in the round. The new investment will
position Chronograph to further accelerate global growth and
development of the company's robust portfolio monitoring,
reporting, and analytics solutions.
Headquartered in Brooklyn,
Chronograph was founded by technologists and private equity
investment professionals to bring next-generation technology to
private capital markets participants. Through a suite of
cloud-based analytics and data management solutions, Chronograph's
technology plays a crucial role in how many of the world's largest
and most sophisticated investors understand, value, and manage
their private investments. The company has grown rapidly since its
founding in 2016, and today monitors over $6
trillion of private equity and venture capital assets on
behalf of institutional limited partners and general partners, with
over 100,000 private companies represented on the Chronograph
platform.
"Information is the ultimate asset in private markets," said
Charlie Tafoya, Co-Founder and CEO
of Chronograph. "The enormous growth in private capital strategies
over the past decade has brought about an equally significant
expansion in the volume and complexity of valuable data that the
world's best investors look to efficiently gather, manage, and use.
We are focused on driving continued innovation on behalf of our
clients and are excited to invest further in capabilities that
support more timely reporting and analysis, improvements in ESG
data management, and LP/GP data inter-connectivity."
"With the rapid proliferation of global private capital
strategies has come increased regulatory demands and reporting
requirements for the investors managing and allocating that
capital," said Greg Goldfarb,
Managing Director at Summit Partners. "Since entering the market,
Chronograph has changed the way many private equity firms and their
investors interact with their data, offering elegant and innovative
software designed to enable robust, timely, and transparent
reporting and analysis. We have been consistently impressed by the
innovation and ingenuity Chronograph has shown and continues to
demonstrate."
Chronograph's solutions eliminate dependencies on error-prone,
inflexible, manual and time-consuming templates for portfolio
companies and funds. By ingesting reporting in any format, the
company's technology enables investment teams, IR professionals,
and reporting teams to efficiently run analytics, conduct
valuations, and build reports powered by automated data pipelines
that produce clean, rich, reliable data.
"We are thrilled to increase our investment in Chronograph, and
to continue our relationship as an LP and GP client," said
Eric Hanno, Partner and Co-head of
AlpInvest's Primary Investment Team at Carlyle. "Chronograph's
technology has allowed AlpInvest to capture and structure more than
seven million data points from our portfolio, and we feel the LP
solution is unique in its ability to capture such a rich and
complete data set."
"Nasdaq Ventures is delighted to continue its support of
Chronograph alongside Summit and Carlyle," said Benjamin Blueweiss of Nasdaq Ventures. "With
increased allocation to private capital strategies and heightened
volatility in today's public markets, access to transparent
investment-level data and analytics is more crucial than ever for
institutional LPs and GPs to maximize returns while managing
risk."
"Calling this our 'Series X' funding round reflects the fact we
have not pursued a traditional fundraising strategy. Instead, we
have focused on building a scalable, capital-efficient company with
a world-class team. And our team is growing – we are hiring across
all functions and are incredibly hungry for exceptional talent in
engineering, product, sales, client success, and other areas,"
Tafoya remarked. "We are thrilled to benefit from Summit Partners'
deep experience in the technology sector and further leverage our
partnerships with Carlyle and Nasdaq to push Chronograph to the
next level."
About Chronograph
Chronograph was founded in 2016 to bring differentiated
technology solutions to the private capital market. The firm's
products help institutional limited partners and general partners –
including many of the world's largest private equity and venture
capital investors – streamline and automate portfolio monitoring,
valuations, analytics, and reporting. The firm is backed by The
Carlyle Group, Nasdaq, Inc. and Summit Partners. For further
information please visit www.chronograph.pe.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative
investment firm that is currently managing more than $35 billion in capital dedicated to growth
equity, fixed income and public equity opportunities. Summit
invests across growth sectors of the economy and has invested in
more than 500 companies in technology, healthcare and other growth
industries. Summit has backed many notable fintech and SaaS
companies, including Calypso Technology, Clearwater Analytics
(NYSE: CWAN), EngageSmart (NYSE: ESMT), Gainsight, Jamf (NYSE:
JAMF), Klaviyo, RightNow and Smartsheet (NYSE: SMAR). Summit
maintains offices in North America
and Europe and invests in
companies around the world. For further information please visit
www.summitpartners.com.
About The Carlyle Group
Carlyle (NASDAQ: CG) is a global investment firm with deep
industry expertise that deploys private capital across three
business segments: Global Private Equity, Global Credit and Global
Investment Solutions. With $376
billion of Assets Under Management as of June 30, 2022, Carlyle's purpose is to invest
wisely and create value on behalf of its investors, portfolio
companies and the communities in which we live and invest. Carlyle
employs more than 1,900 people in 26 offices across five
continents. Further information is available at www.carlyle.com.
Follow Carlyle on Twitter @OneCarlyle.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the
capital markets and other industries. Our diverse offering of data,
analytics, software and services enables clients to optimize and
execute their business vision with confidence. For further
information please visit www.nasdaq.com.
Contacts
Richard Wess
Chronograph
New York, New York
richard.wess@chronograph.pe
Susan Barr
Summit Partners
Boston, Massachusetts
sbarr@summitpartners.com
Brittany Berliner
The Carlyle Group
Washington, D.C.
brittany.berliner@carlyle.com
William Briganti
Nasdaq
New York, New York
william.briganti@nasdaq.com
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SOURCE Chronograph