PeerNova, a leading Distributed Ledger Technology (DLT) solution provider, today announced it had raised $31 million in growth funding led by an existing investor, Mosaik Partners.
Medici Ventures and Intuitive Venture Partners also joined this round to show their continued support for PeerNova. This round of funding brings the total fundraising to $74 million.
“We are very excited to announce this round of funding. 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. We will use this round of financing to continue our mission, increase market penetration, and extend the functionality and use cases of our Cuneiform Platform.”
– Gangesh Ganesan, PeerNova’s President, and CEO
PeerNova’s Cuneiform Platform enables financial institutions to attain end-to-end digitization by unifying disparate sources of data and lifecycle events.
The Platform allows financial institutions to perpetually synchronize their data across multiple internal and external systems thereby guaranteeing data and process integrity. This perpetual synchronization simplifies reconciliation, automates exception processing, and provides greater end-to-end operational visibility across workflows in real-time.
“PeerNova has solved seemingly insurmountable reconciliation, asset optimization, 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. We are excited to lead this growth round to bring PeerNova’s extraordinarily high-value solutions to financial institutions globally.”
– Howard Mergelkamp, Managing Partner at Mosaik Partners