ATLANTA--(BUSINESS WIRE)--Gridline has closed a $9 million funding round on the heels of launching its digital platform for alternative investments last month. This capital enables the company to accelerate growth by scaling investment, sales and marketing teams to double headcount over the next 12 months.
Investors in this fundraise include family offices; general partners leading venture capital, private equity and real estate funds; and numerous entrepreneurs and executives. Notable participants include David Dorman, board member of CVS, Dell and PayPal, and former CEO of AT&T; Mark Shoberg, former managing director of the University of Texas Investment Management Company and Stanford Management Company; tech unicorn founders David Cummings, founder of Atlanta Ventures and Pardot; Edwin Marcial, founding CTO at Intercontinental Exchange; Kyle Porter, founder and CEO of SalesLoft; Garrett Langley, founder and CEO of Flock Safety; and Sacha Labourey, co-founder of CloudBees. Additional key investors include Tim Kopp, CEO of Terminus; Aaron Stone, senior partner at Apollo Global; and Jon Hallett, board advisor or director to 30+ venture-backed companies. Participating funds include GC&H Investments, the partner fund of Cooley LLP; Ardent Venture Partners, Tech Square Ventures, and BLH Venture Partners.
Early support from these investors reinforces the demand for a platform that revolutionizes alternative asset investing for the estimated 16 million U.S. households that qualify as accredited investors and the RIAs they work with.
“We are targeting $2 billion of AUM in three years to create one of the fastest-growing wealthtech platforms to date,” said Gridline Founder and CEO Logan Henderson. “This new capital and the support of a fantastic group of investors will allow us to approach expansion at full throttle.”
Gridline will grow its investment team with this new funding, bringing in analysts from across sectors and allocation strategies to build multi-asset products that deliver both diversification and access to the world's top fund managers for individual investors and RIAs. The company is also building out its demand team to provide educational content and thought leadership that brings transparency to a private market space that is historically opaque.
Investors in this round include a diverse group of legal, regulatory, wealth management and asset allocation experts, highlighting the broad appeal of the alternative investments platform and its offerings. These entrepreneurs and operators bring valuable expertise and insightful guidance as Gridline scales.
“Gridline is changing the way the industry offers access to private market investing,” said Dorman. “As individual investors and RIAs seek out this asset class, Gridline’s innovative approach is opening the doors for non-institutional investors to gain entry to previously inaccessible assets.”
About Gridline
Gridline is a first-of-its-kind digital wealth platform that revolutionizes private market investing by providing individual investors with access to top-performing alternative asset managers, enabling them to build diversified portfolios in a matter of minutes through a fully digital experience.
For more information, visit Gridline.co.
