Press Releases

Canoe Intelligence Named to the 2020 CB Insights Fintech 250 List of Fastest-Growing Fintech Startups

NEW YORK, September 08, 2020 – Canoe Intelligence (“Canoe”), a financial technology company focused on reimagining data management processes for alternative investors and capital allocators, today announced it was named on the prestigious CB Insights Fintech 250 list, which recognizes emerging private companies working on groundbreaking financial technology.

Through an evidence-based approach, the CB Insights award panel selected the Fintech 250 from a pool of 16,000 applicants and nominees, based on several factors. These factors include patent activity, investor quality, news sentiment analysis, market potential, partnerships, competitive landscape, team strength, tech novelty, and proprietary Mosaic scores. The Mosaic scores based on CB Insights’ proprietary algorithm, measure the overall health and growth potential of private companies to help predict their momentum.

“It’s a great honor to have our hard work and innovative technology recognized,” said Canoe President, Seth Brotman. “We’re proud to be named among the 250 best fintech companies as we continue pushing the boundaries with our purpose-built solutions that are reinventing the way alternative investors and allocators operate.”

This announcement follows a string of recent Canoe award wins. Canoe has been shortlisted in four categories of A-Team Group’s Data Management Insight Awards 2020 awards: Most Innovative Data Management Provider; Best Data Ops Solution Provider; Best Cloud-Based Data Management Solution; and Best Proposition for AI and Machine Learning. In May, the company announced it won the 2020 Financial Services Forum Awards in the “One to Watch” and “Transforming the Workforce” categories; and in March, Canoe was named Most Innovative Client Solution in the Family Wealth Report’s 2020 Awards.

“This year’s 250 best fintech companies span 19 categories – everything from retail banking and crypto, to insurance and asset management,” said CB Insights CEO, Anand Sanwal. “The previous Fintech 250 class raised more than $22 billion in investor financing and saw more than 20 exits after being recognized, and we expect this year’s class will have similar success as they transform how people and businesses spend, save, borrow, and invest their money.”

The data required to track alternative investments is usually locked in PDF reports. Typically, wealth managers and institutional investors manually extract relevant data points from reporting documents, then feed the data into Black Diamond. With this partnership, advisors can leverage Canoe’s technology to automatically convert PDF data into a Black Diamond-compatible format, eliminating time-consuming manual efforts and substantially reducing the risk of errors.

“Partnering with Canoe Intelligence provides our clients another differentiated way to stay ahead of their competition, and in control of their business growth,” said Steve Leivent, Senior Vice President and co-head of SS&C Advent. “By automating the extraction and formatting of alternative investment data, clients can ensure greater accuracy as they focus on building long-lasting client relationships.”

Canoe leverages a combination of industry expertise and advanced AI and machine learning techniques to eliminate the operational inefficiencies associated with alternative investment workflows. Canoe ingests reporting documents from multiple sources, systematically categorizes and saves the documents, then applies business, accounting, and investment rules to extract and validate the necessary data elements. The solution then formats the clean and accurate data for import into Black Diamond and other SS&C systems.

“Working with SS&C, our focus remains on improving efficiency and helping firms scale,” said Michael Muniz, Partner and Chief Revenue Officer of Canoe Intelligence. “This partnership will empower many investment professionals with the tools and tactics to manage a growing book of alternative investments while optimizing time and resources.”

A long-time Black Diamond client, AdvicePeriod, has already implemented Canoe’s technology to manage their alternative investment workflow more efficiently.

“Forward-looking technology is one of the primary reasons advisors join AdvicePeriod, and the integration of Canoe Intelligence with Black Diamond is a key part of our solution,” said Matthew Woodward, Head of Operations at AdvicePeriod. “By leveraging an integrated solution with complete flexibility, our team spends less time with operational duties surrounding alternative investments and more time supporting our Partner Advisors in building their business.”

This news follows other recent news from Canoe that include being recognized by Financial Services Forum as the “One To Watch” and “Transforming The Workforce” and starting multiple new client engagements with institutional investors.


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:

About CB Insights
At CB Insights, we believe the most complex strategic business questions are best answered with facts. We are a machine intelligence company that synthesizes, analyzes, and visualizes millions of documents to give our clients fast, fact-based insights. Serving the majority of the Fortune 100, we give companies the power to make better decisions, take control of their own future, and capitalize on change. For more, visit

Monica VanHorn
Forefront Communications for Canoe Intelligence