Zelig is delighted to announce that it has acted as sole financial advisor to Accelex, a leading provider of AI automation for private markets data acquisition, reporting and analytics, on its $15 million Series A funding round led by FactSet. Existing investors Illuminate Financial, AlbionVC, SixThirty Ventures and Expon Capital also participated in the round.

Accelex’s technology is already a key enabler in FactSet’s private markets growth strategy. Hence, this transaction further strengthens the relationship between the two firms as they work together to bring innovation to the alternative assets industry, helping market participants gain a deeper understanding of the drivers of investment performance.

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 address this challenge by employing market-leading data science to automate the end-to-end workflows from document acquisition and data extraction to reporting and analytics.

This funding comes at an exciting time for Accelex. Over the past 24 months, the firm has embarked on a phenomenal growth trajectory. Accelex has won 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. The capital infusion will allow Accelex to expand its operations further, enhance product capabilities, and enlarge asset class coverage.

“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. 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."
Rob Robie, Executive Vice President, Head of Institutional Buyside at FactSet

“This partnership will solidify our position as a leader in the alternative investment data management and analytics space. 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.”
Michael Aldridge President, Accelex

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

Zelig’s advice throughout was insightful and effective, especially in managing the process and aligning objectives of the multiple stakeholders involved.” 

Franck Vialaron Chief Executive, Accelex