Canoe Expands EMEA Presence with New Clients, New Office, and New Senior Hire
NEW YORK, March 10, 2021 – Canoe Intelligence (“Canoe”), a financial technology company focused on reimagining data management processes for alternative investors, wealth managers, asset servicing firms, and capital allocators, today announced it has expanded its EMEA presence with new clients, a new London office and the hire of Toby Bailey as Vice President of Sales, EMEA.
The alternative assets industry in Europe is robust and growing, making it the optimal time for Canoe to expand its presence in the region. Total assets under management for Europe-based alternatives funds reached EUR2.00 trillion for the first time as of the end of 2019, according to Preqin’s 2020 Alternative Assets in Europe report1. This is up from EUR1.79 trillion at the end of 2018, and EUR1.39 trillion at the end of 2015.
In 2020, Canoe’s global client base grew by more than 150% as clients implemented Canoe’s technology to automate and scale their alternative data processes from document collection to data extraction and delivery into downstream systems.
Mr. Bailey, who has joined Canoe’s growing team in its new London-based office, will be responsible for leading Canoe’s go-to-market strategy, building partnerships, and driving revenue growth in the region. Mr. Bailey will spearhead the company’s business strategy to expand Canoe’s reach into new and existing markets.
Mr. Bailey has over 12 years of experience in sales and sales leadership at private markets software and data businesses. He began his career at the Mergermarket Group where he helped launch and grow the company’s M&A platform, MergerID, which was ultimately acquired by Intralinks. Mr. Bailey was the third hire for iLEVEL in Europe, where he contributed to establishing iLEVEL as the dominant portfolio monitoring software for private capital GPs and LPs. He was with the business through its acquisitions by both Ipreo and IHS Markit. Most recently, Mr. Bailey opened the UK office for CEPRES where he successfully established a team and grew its client base of European institutional investors.
“Alternative investments are growing rapidly around the world and we’re looking forward to being at the forefront of this regional expansion. We’re excited to welcome someone of Toby’s caliber to the team,” said Canoe CEO Jason Eiswerth. “As we continue to expand our reach internationally and more firms recognize the importance of streamlining alternative investment processes, Toby’s track record of successfully growing organizations within the UK and beyond will make a significant impact at Canoe.”
Commenting on the new role, Mr. Bailey said: “Canoe’s expansion over the last three years—now on a global scale—is nothing short of inspiring. I look forward to contributing to the team’s ongoing success as we expand into new and existing markets. Jason and the rest of the Canoe team have built a revolutionary firm that solves alternative investors’ and allocators’ biggest challenges, and I’m eager to share the incredible benefits of our solution with many more firms in the region.”
This announcement makes for a prosperous first quarter for Canoe following a successful 2020, as the company increased its client base by over 150%. Canoe continues to grow its client engagements with institutional investors and large family offices.
About Canoe Intelligence
Canoe Intelligence is a first-of-its-kind technology that allows allocators to unlock their data. Canoe reimagines operational workflows and enables clients to transform their processes in order to eliminate manual data entry. By combining industry expertise with the most sophisticated data capture technologies, Canoe automates the digitization of PDF reporting documents into actionable data and intelligence for institutional investors, allocators, and asset servicing firms. With Canoe, clients refocus capital and human resources on business performance and growth. Canoe’s AI-driven platform was developed in 2013 for Portage Partners LLC, a private investment firm, and is relied upon by hundreds of institutional investors, service providers, family offices, and allocators. Learn more: www.canoeintelligence.com
Forefront Communications for Canoe Intelligence