PeerNova raises $31 million in new funding round
Data transparency and reconciliation firm PeerNova has raised $31 million in a funding round led by Mosaik Partners and joined by Medici Ventures and Intuitive Venture Partners.
The latest round brings the total raised by PeerNova to $74 million. The firm plans to use the funding to build out its data platform Cuneiform.
“We are committed to further building our unique solution that solves relevant, timely, and pertinent problems that plague data and process integrity in the financial industry,” says Gangesh Ganesan, PeerNova president and CEO.
PeerNova claims that Cuneiform allows financial institutions to synchronise their data across multiple internal and external systems, “guaranteeing data and process integrity”.
PeerNova has solved seemingly insurmountable reconciliation, asset optimisation, and data integrity challenges for the largest financial institutions, saving them millions of dollars in annual costs and freeing up billions in revenue-generating collateral and reserves,” says Howard Mergelkamp, managing partner at Mosaik Partners.
Jonathan Johnson, president of Medici Venture and PeerNova board member, adds: “PeerNova has products in production that are solving key trust and transparency challenges, removing friction, and allowing clients to seamlessly use their resources more efficiently.”