Allocate recently closed a $30.5 million Series B funding round. Portage Ventures led this investment. Additionally, Andreessen Horowitz, M13, and Fika Ventures also participated. This brings Allocate's total capital raised since inception to $64 million.
The new capital will accelerate Allocate's private market AI in finance and workflow automation development. It also supports expanding integrations and broadening coverage beyond venture capital. Allocate now includes private equity and private credit solutions.
Advancing Private Market Infrastructure
Allocate modernizes private market investing for wealth advisors and family offices. The platform addresses complexity and administrative burdens in alternative investments. Competitors like Addepar also serve wealth management firms with technology solutions.
Furthermore, institutions spend over $17 billion annually on private market infrastructure. Allocate provides a modular, end-to-end operating system. This financial technology streamlines access to private markets.
Its core products include Allocate Curations for opportunities and Allocate Fund Solutions for white-label fund creation. Allocate Insights offers a unified view for portfolio management. The platform currently manages over $2.5 billion in assets, serving over 1,200 wealth advisory firms. Major players like Blackstone also navigate these complex markets.
