Unicorn Juniper Square Sells Picks and Shovels of Private Market Boom
Venture capitalists are betting on a product that’s close to their hearts: software for venture capitalists. Juniper Square Inc., a software provider for VCs and other private investors, has raised $130 million in a deal that values the company at $1.1 billion.
The new funding round, which the company plans to announce Monday, was led by Ribbit Capital, with participation from Fifth Wall, Redpoint Ventures and others. The cash infusion will go toward expansion, and building out the startup’s artificial intelligence capabilities.
Juniper Square’s software helps VC, private equity and real estate investors keep tabs on their investments, and can be used for other tasks like fundraising, administration, compliance and data analysis. The company says it counts major firms as customers — including Felicis Ventures and Greystar — with more than 600,000 limited partner clients, and 2,000 general partners. The company said about $1 trillion dollars in equity is managed using its platforms.
The funding comes as the private markets have grown in both size and importance. Some of the country’s most prominent startups have chosen to stay private longer (see: Stripe Inc. and Space Exploration Technologies Corp.), as more money flows into secondary share sales and other investments. Juniper and its investors believe that growth represents an opportunity.
