USA – Arch, a NYC-based investment platform for private investment communications in one portal, with one login, raised $5.5m in Seed funding.
The round was led by Craft Ventures with participation from Animal Capital, Good Friends (started by the founders of Warby Parker, Harry’s, and Allbirds), Vine Ventures, Soma Capital, Henry Ward (CEO and Co-founder of Carta), and over 25 current Arch clients.The company intends to use the funds to expand its platform of financial management tools, and to grow their New York-based team, hiring in operations, partnerships, and engineering.Co-founded by Ryan Eisenman, CEO, Joel Stein and Jason Trigg, Arch provides a platform that manages all private investment communications connecting with the back office for each private investment, receiving all documents and communications in a secure, aggregated platform. Its automated system collects K-1s, manages cash flows, and provides reporting ready data, removing the need to access 3rd party portals. The platform collects tax documents across every investment, organizing critical information and delivering these documents automatically to Accountants and Tax Advisors.Since launching publicly in June 2020, the company has grown annualized recurring revenue over 1,100%, and the private assets managed on Arch have experienced over 2,300% growth.08/12/2021
