What is Passthrough?
Passthrough offers an integrated platform designed to automate and simplify the subscription document process, including distribution, execution, and compliance. Founded by former leaders from Carta Investors Services, the company addresses a critical pain point for investors by making the subscription document process turnkey. Its platform incorporates replicable and verifiable identity information for future use and also provides a comprehensive AML & KYC compliance product, enabling fund managers to maintain regulatory adherence efficiently.
How much funding has Passthrough raised?
Passthrough has raised a total of $15M across 2 funding rounds:
Angel/Seed
$5M
Series A
$10M
Angel/Seed (2022): $5M with participation from Positive Sum, Great Oaks, Okta, and Company Ventures
Series A (2023): $10M led by Company Ventures and Positive Sum
Key Investors in Passthrough
Company Ventures
Company Ventures is a NYC-based venture capital firm that invests in new technology-driven businesses at the earliest stages, predominantly in digital health, fintech, and enterprise SaaS businesses at pre-seed, seed, and series A stages.
Positive Sum
Positive Sum invests in early-stage companies led by founders who are passionate about their life's work, providing long-term capital and leveraging their extensive network to deeply engage with a select few teams.
Great Oaks
Founded in 1970 and headquartered in Cincinnati, Ohio, Great Oaks is a career and technical education school district for high school students and adults.
What's next for Passthrough?
The recent major strategic investment signals a pivotal phase for Passthrough, likely enabling the company to scale its operations, enhance its platform capabilities, and expand its market reach. This capital infusion is expected to fuel further development of its compliance solutions and bolster its go-to-market strategy, positioning Passthrough as a key player in the fintech and fund administration space. The company's focus on automating critical back-office functions for investment firms suggests a continued emphasis on efficiency and regulatory adherence in its future product roadmap.
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