Due diligence service Intelligo scores $22m investment from its customer

Intelligo, an AI-powered background risk intelligence platform for investment due diligence, has collected $22m in growth funding.

Asset management firm Felicitas Global Partners supplied the capital to the round. Felicitas has been a client of Intelligo for two years. It is seeing the platform from this firsthand perspective that urged the firm to invest.

Felicitas managing partner Bonar Chhay said, “We have not come across many tech-enabled companies that offer pre-investment and pre-hiring intelligence and live monitoring in one, easy-to-use solution that delivers information critical to real-time decision-making. Knowing the market opportunity and the quality of Intelligo’s technology, we made the proactive decision to invest now as Intelligo continues to gain significant customer adoption.”

Intelligo has built an AI-powered platform that lets investors, financial institutions and corporations make fast, accurate and intelligence-driven decisions with a 360-degree view of executives’ reputational, legal and financial backgrounds.

Its Clarity solution is used by hundreds of private equity firms, funds of funds, VCs, hedge funds, investment banks, and institutional investors to bolster pre-investment due diligence.

The FinTech company claims to have seen a 200% annual revenue growth over the past three years and is on track for 300% growth in 2021.

Intelligo CEO and co-Founder Shlomo Mirvis said, “Due to COVID-19, in-person meetings were practically nonexistent and without the ability to make a one-on-one connection with management teams, investment firms have become even more reliant on thorough background checks to make investment decisions.

“For the same reasons, they need a more advanced and accessible solution that enables collaboration and remote work for their diligence.

The company previously raised $15m in its Series B funding round in 2020.

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