Gridline, a technology provider for advisory firms managing private market investments, has secured $18.5m in Series A funding led by FINTOP. The investment will accelerate the development of their platform, focusing on AltComply, an AI-powered due diligence tool. Gridline plans to expand its workforce and provide a single platform for managing private market operations efficiently.

AltComply aims to automate document processing, standardize analysis, and identify risks to enhance efficiency and consistency in reviewing private investments. Gridline’s platform has led to significant time savings for users, reducing manual reconciliation by up to 90% and saving 10 to 30 hours per investment in due diligence and monitoring work. The company collaborates with registered investment advisers, multi-family offices, and private banks to manage and grow private market investment programs.

Read more at Yahoo Finance: Alternative investment platform Gridline secures $18.5m in Series A