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Canalyst is a financial technology organization based in New York and Vancouver that provides a software-as-a-service platform delivering clean, structured fundamental data and fully functioning financial models for global public companies. The cloud-based platform currently covers more than 4,000 North American equities, enabling institutional investors, buy-side analysts, and portfolio managers to access accurate, forward-looking analysis while significantly reducing their manual modeling efforts. Operating on a recurring subscription basis, the company serves hundreds of firms across the broader financial services and corporate markets to ground their investment decisions in reliable data. Backed by prominent institutional investors such as Scale Venture Partners, the Canada Pension Plan Investment Board, and Macquarie Group, the enterprise has scaled its operations to include a workforce of approximately 200 employees. Canalyst was officially founded in 2015 by Damir Hot and James Rilett.
Canalyst has raised $90.0M across 2 funding rounds.
Canalyst has raised $90.0M in total across 2 funding rounds.
Canalyst has raised $90.0M across 2 funding rounds. Most recently, it raised $70.0M Series C in January 2022.
Canalyst is a technology company that has built a SaaS-based equity research and fundamental data platform for investors and finance professionals. At its core, Canalyst provides a cloud-native database of high-quality, standardized, and up-to-date financial models and KPIs for thousands of public companies, enabling users to accelerate their investment research and decision-making workflows.
The company serves portfolio managers, equity analysts, and CIOs at hundreds of institutional investors and corporations globally, including many of the largest asset managers. Canalyst solves the problem of fragmented, inconsistent, and time-consuming fundamental data collection by offering clean, directly sourced, and uniformly structured models built from 10-Ks and 10-Qs. Its growth momentum is reflected in its expanding global client base, multi-round venture financing (including Series A with WorldQuant), and rapid team scaling to over 200 employees across Vancouver and New York.
Canalyst was founded in 2015 by James Rife, a former buyside analyst and portfolio manager, who created the initial product as a personal tool to efficiently expand his equity coverage and compare a broad universe of companies. Frustrated by the inefficiencies of traditional sell-side models and manual data aggregation, Rife built a proprietary system that combined rigorous data sourcing with standardized, reusable financial models.
What began as an internal workflow tool quickly gained attention from other institutional investors who recognized its competitive edge. This external demand catalyzed the formal incorporation of Canalyst and the launch of its commercial platform. Starting with a North American equity model database of 500 models from a basement office in Vancouver, the company has since scaled to over 4,000 models and expanded into global markets, backed by multiple rounds of venture financing and a growing team of finance and technology professionals.
Product & Data Quality- Models are built directly from company filings (10-Ks, 10-Qs), ensuring accuracy and traceability.- Every model undergoes manual review by sector-specialist analysts, combined with multiple layers of automated quality checks.- Delivered in a consistently structured format across all sectors and market caps, enabling apples-to-apples comparisons.
Coverage & Flexibility- Broad coverage of nearly all North American public equities, with expansion into global markets.- Full company-specific models across all market caps and sectors, unlike many competitors that focus narrowly on large caps or specific industries.- Unlocked Excel models with complete operating and segment data, integrated live pricing, and consensus estimates.
Workflow Efficiency- Earnings Updater feature automatically incorporates latest earnings into clients’ working models, saving analysts significant time.- Cloud-based SaaS platform with immediate access and fast turnaround during earnings season, including a Watch List feature to prioritize coverage.- APIs and integrations allow seamless embedding into existing research and portfolio management systems.
Team & Culture- Built “by investors, for investors” — leadership and research teams include former buyside professionals with deep sector expertise.- Strong focus on client-centric product development, with responsive support and custom request capabilities.
Canalyst sits at the intersection of fintech, data infrastructure, and institutional investing, riding several powerful trends: the shift toward in-house fundamental research, the demand for clean and structured alternative data, and the broader automation of investment workflows. As asset managers reduce reliance on sell-side research and seek proprietary edges, platforms like Canalyst become critical infrastructure for scaling analyst productivity.
The company also reflects the growing importance of “data-as-a-service” in finance, where high-quality, standardized datasets are as valuable as the models built on top of them. By combining human expertise with technology-enabled quality control, Canalyst is helping redefine how institutional investors consume and operationalize fundamental data. Its success underscores a broader market shift: the most valuable financial technology isn’t just about speed or access, but about trust, consistency, and workflow integration.
Canalyst is well-positioned to become the default fundamental data layer for institutional equity research, especially as demand grows for transparent, auditable, and customizable models. The next phase will likely include deeper global expansion, enhanced API and analytics capabilities, and tighter integration with portfolio management and risk systems.
As AI and automation continue to transform investment workflows, Canalyst’s clean, structured data foundation will become even more valuable — not just for human analysts, but as training data and input for quantitative and machine learning models. The company’s challenge will be to maintain its premium quality bar while scaling coverage and features, all while defending its position against both traditional data providers and emerging AI-native research platforms.
In a world where information is abundant but insight is scarce, Canalyst’s bet is that the winners will be those who start with the cleanest, most reliable fundamentals. That’s not just a product strategy — it’s a vision for the future of institutional investing.
Canalyst has raised $90.0M in total across 2 funding rounds.
Canalyst's investors include Dragoneer Investment Group, 9Yards Capital, Kevin Hartz, Accel, Acrew Capital, Adverb Ventures, AME Cloud Ventures, Audrey Capital, Benchstrength, Blitzscaling Ventures, Bond, Broadway Angels.
