Canoe Intelligence Expands Presence in EMEA and Opens New Office in London
Following a record year in 2022, the London office opening reinforces the company’s leadership position in the region and accelerates its growth across EMEA
LONDON, NEW YORK, May 3, 2023 – Canoe Intelligence (“Canoe”), the financial technology company powering alternative investment intelligence, today announces the opening of its London office as part of its EMEA expansion strategy. Located on Embankment, this physical location supports regional team growth within multiple departments, and strong client growth within the asset servicer, institutional investor, and wealth management segments.
Canoe plans to continue expanding its London-based staff to complement its teams in the US, following recent senior appointments such as Rob Calder, Enterprise Sales Executive, and Aman Soni, VP of Data Strategy, who both joined the London team from J.P. Morgan.
- Rob Calder has over 25 years of sales and client management experience, focused on the delivery of post-trade efficiencies to institutional asset owners and asset managers in EMEA.
- Aman Soni gained varied experience across operations, private markets, strategic sales, digital innovation, and data and analytics during his 7-year tenure at J.P. Morgan.
The commitment to make strategic hires aligns with Canoe’s objectives to recruit top talent in key functional areas, enhance enterprise product offerings, develop new data products, and continue the development of its core platform.
Canoe doubled its client base to over 200 alternative investors and administrators in 2022 and sees continued growth as the demand for operational efficiencies and scale from cloud-based, machine learning solutions accelerates internationally. Approximately 20% of Canoe’s clients are located in the EMEA region.
In 2023, Canoe expanded its coverage to 25,000+ funds processing 10M+ documents and extracting 40M+ data points annually. This results in a 94% ROI on time spent collecting documents, reducing 18 hours monthly to just one, and a 20x increase in the number of funds
processed by each employee.
Jason Eiswerth, Chief Executive Officer at Canoe Intelligence, added: “We are excited about London becoming a new hub for Canoe, following our successes in the American market. The location was attractive to us from both an operational and a talent perspective. As we are currently undergoing incredible growth, it is paramount that we have access to some of the brightest minds in Europe to ensure we achieve the goals we have set for 2023 and beyond.”
London-based Alston Zecha, Partner at Eight Roads and Canoe Investor, also commented on Canoe’s expansion in the region: “Canoe has become a mission-critical solution for the alternative investment industry in North America, with a proven track record of impressive customer results. The EMEA alternative investment industry is nearly the same size as North America with identical data challenges, but with no comparable local solution. By opening a hub in London, Canoe shows its commitment to creating a truly global platform: being closer to its European customers and tapping into additional talent pools to grow its world-class team.”
The announcement also follows a string of recent strategic senior hires, a USD 25m Series B fundraise, led by F-Prime Capital with participation from Eight Roads, and recent industry-led recognition in the European region for Canoe’s people and processes around using artificial intelligence to manage alternative investment data.
About Canoe Intelligence
Canoe Intelligence redefines alternative investment data processes for hundreds of leading institutional investors, capital allocators, asset servicing firms, and wealth managers. By combining industry expertise with the most sophisticated data capture technologies, Canoe’s technology automates the highly-frustrating, time-consuming, and costly manual workflows related to alternative investment document and data management, extraction, and delivery. With Canoe, clients can refocus capital and human resources on business performance and growth, increase efficiency, and gain deeper access to their data. Canoe’s AI-driven platform was developed in 2013 for Portage Partners LLC, a private investment firm. The company discusses wealth management, institutional investment, and technology topics on its blog. Learn more at www.canoeintelligence.com.
Betsy Miller Daitch