LONDON, Nov. 2, 2023 -- Accelex, a leading provider of AI automation for private markets data acquisition, reporting and analytics, announced today it has closed a $15 million Series A funding round led by FactSet, a global financial digital platform and enterprise solutions provider, with participation from existing investors Illuminate Financial, AlbionVC, SixThirty Ventures and Expon Capital.

The capital infusion comes at a time of rapid growth for Accelex, allowing the firm to further expand operations, enhance product capabilities, and deliver exceptional client success. This transaction strengthens the relationship between the two firms, with Accelex's technology already a key enabler in FactSet's private markets growth strategy.

Transparency is vital for investors. However, unlike traditional assets, investments in private markets are plagued by unstructured content, often requiring expensive and error-prone manual processing. Accelex is transforming the way investors tackle these challenges by leveraging market-leading data science to automate the end-to-end workflows from document acquisition and data extraction to reporting and analytics. FactSet and Accelex are bringing innovation to the alternative assets industry, ultimately providing clients with solutions to better understand the drivers of investment performance.

"Data-driven decision-making is critical for our clients, particularly as their portfolios increase in exposure to private capital, where the acquisition, aggregation, and analysis of investment data has been a challenge," said Rob Robie, Executive Vice President, Head of Institutional Buyside at FactSet.  "We are thrilled to partner with Accelex on this journey to bring innovative solutions to private markets, united by our shared commitment to empowering the alternative investment community with superior data and analytics, enabling better investment outcomes."

"This partnership will solidify our position as a leader in the alternative investment data management and analytics space," added Michael Aldridge, President at Accelex. "Today we serve some of the world's largest and most sophisticated investors, and their service providers, delivering better data, faster while reducing their operational burden."

"We are delighted with the completion of this latest financing round with FactSet and the continued support from our financial partners," remarked Franck Vialaron, Chief Executive at Accelex. "This further validates the Accelex team, our approach to innovation, and the unique value proposition we offer our private markets clients."

This funding comes at an exciting time for Accelex. During the past 24 months the firm has embarked on a phenomenal growth trajectory, adding a large number of top-tier asset owners and allocators along with asset servicers and service providers as clients. These firms now represent a combined asset base of over $1.5 trillion, invested in more than 13,000 private market funds across 4,000 asset managers.

Zelig Capital Partners acted as financial advisor and Goodwin Procter LLP acted as legal advisor to Accelex. Mills & Reeve LLP acted as legal advisor to FactSet.

About Accelex

Founded in 2018, Accelex provides data acquisition, analytics and reporting solutions for alternative investors and asset servicers, enabling firms to access the full potential of critical investment performance and transaction data. Powered by proprietary artificial intelligence and machine learning techniques, Accelex solutions automate processes for extraction, analysis and sharing of difficult-to-access unstructured data. Accelex is headquartered in London, with offices in Paris, Luxembourg, New York, and Toronto. Find out more at www.accelextech.com and follow Accelex on LinkedIn.

About FactSet

FactSet (NYSE:FDS | NASDAQ:FDS) helps the financial community to see more, think bigger, and work better. Our digital platform and enterprise solutions deliver financial data, analytics, and open technology to nearly 8,000 global clients, including almost 190,000 individual users. Clients across the buy-side and sell-side as well as wealth managers, private equity firms, and corporations achieve more every day with our comprehensive and connected content, flexible next-generation workflow solutions, and client-centric specialized support. As a member of the S&P 500, we are committed to sustainable growth and have repeatedly scored 100 on the Human Rights Campaign® Corporate Equality Index. We have been recognized amongst the Best Places to Work in 2023 by Glassdoor as a Glassdoor Employees' Choice Award winner. Learn more at www.factset.com and follow us on Twitter and LinkedIn.

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