This week, Sightglass, an AI-powered investor relations platform for non-public markets, introduced it has raised a $3 million seed funding spherical led by Base10 Companions. Sightglass was based by Thomas Buley, who was most not too long ago the VP of product at Guideline. The corporate will use the funding to speed up product improvement and increase its market presence.
“Sightglass was based to deliver better transparency, belief, and effectivity to the non-public markets,” stated Buley. “As institutional buyers are committing document quantities of capital to options, they’re demanding better transparency from their funding managers. Sightglass facilitates that info circulate from our AI-powered information rooms throughout fundraising by way of automating responses to ongoing due diligence questionnaires.”
The corporate launched in March, claiming prospects shortly noticed greater than 90% time financial savings when responding to investor info requests throughout fundraising. Sightglass has since expanded its product choices to assist enterprise capital corporations gather range metrics from their portfolio corporations to share with their restricted companions and to satisfy new reporting necessities from the state of California.
“Sightglass is revolutionizing GP-LP workflows by automating processes, beginning with DDQs and increasing throughout the total spectrum of interactions. This allows sooner closings, fosters deeper transparency, and drives important effectivity features, remodeling how GPs and LPs interact and construct lasting partnerships,” stated Adeyemi Ajao, co-founder and managing accomplice at Base10 Companions. “Thomas and the Sightglass crew are addressing a vital ache level in non-public markets. GPs are underneath stress to ship better transparency, whereas LPs demand accountability, a lot in order that the Base10 crew now makes use of Sightglass to ship our personal greater commonplace of transparency, belief, and significant collaboration between Base10 and our LPs,” continued Ajao.
Based in 2022, Sightglass was initially incubated within Base10 Companions, with the founding crew working carefully with the agency to develop the preliminary variations of the product. Base10 is a Sightglass buyer.
