BOSTON--(BUSINESS WIRE)--Ark, a cloud-based, highly configurable investor portal designed for private equity, venture capital and real estate fund managers and fund administration firms, today announced it closed $3.4 million in Series A financing led by Vitruvian Partners. The investment will be used to expand the company’s engineering, sales and operations teams.
“Ark already supports more than 10,000 limited partners and $75 billion in capital commitments while in the early stages of the company's growth,” said Joseph O’Mara, partner at Vitruvian Partners. “As general partners we see the immense value and potential in Ark's thoughtfully designed portal--which was purpose-built to make investor reporting more efficient for CFOs and fund operators.”
In addition, Ark announced that Rob Stype has joined the company as CEO. Before joining Ark, Rob was a co-founder and CEO of ACA Compliance Group, a leading provider of governance, risk, and compliance technology solutions and advisory services with a focus in the private markets space.
“I’m honored and excited to join the team at Ark, especially at such a momentous time for the company,” Stype said. “We have a significant opportunity for growth and Vitruvian’s investment allows us to expand our product offerings while also attracting new clients to the existing platform, which can be quickly customized to suit individual client needs.”
“Both Rob and Vitruvian Partners bring deep experience to Ark and will allow us to further extend the industry’s most dynamic, scalable, and cost-effective investor portal,” said Bill Ward, COO of Ark.
Ark is a cloud-based portal for investors that manages investor reporting through a secure, connected, and branded platform. The Ark team has decades of experience managing technology, software development, and all aspects of fund operations. Ark’s clients include private equity, venture capital, real estate, and other private market funds, as well as top fund administration firms. Ark was founded in Boston in 2017 and has operations nationwide.
About Vitruvian Partners
Vitruvian is an independent growth capital firm headquartered in London with offices across London, Stockholm, Munich, Luxembourg, San Francisco and Shanghai. Vitruvian focuses on dynamic situations characterized by rapid growth and change across industries spanning information technology, financial services, life sciences & healthcare, media, and business and consumer services. Vitruvian is currently investing from its fourth fund, the €4.0 billion Vitruvian Investment Partnership IV, which is among the largest pools of capital in Europe supporting innovative and higher growth companies. Vitruvian Funds have backed over 45 companies and have assets under management of approximately €10 billion. Notable investments to date include global market leaders and disruptors in their field such as Just Eat, FarFetch, Darktrace, Trustpilot, Marqeta, TransferWise, Accountor, and Skyscanner.