Disruptive leader in private markets technology for institutional investors plans to leverage new investment to continue product expansion and support global growth
NEW YORK CITY – 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 thrilled 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.”
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.
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.