Diligend Rebrands as Dasseti, Announces Series A Financing Led By Nasdaq Ventures

Rhea-AI Summary

Dasseti, formerly Diligend, has enhanced its collaboration with Nasdaq Ventures following a successful Series A Financing round. This partnership aims to improve operational efficiency in the investor due diligence space through advanced technology and deeper product integration with Nasdaq eVestment. Hence, clients will benefit from streamlined workflows and improved data analysis capabilities. With over $20 trillion in assets under management, Dasseti's growth trajectory shows strong demand among institutional investors, consultants, and asset managers. The rebranding reflects its commitment to provide unique insights and drive decision-making in investment management.

Positive

• Successful Series A Financing round led by Nasdaq Ventures.
• Strong demand indicated by year-over-year growth and a significant client portfolio.
• Enhanced product integration with Nasdaq eVestment for improved workflow efficiency.
• New technology features in Collect and Respond platforms aid in due diligence processes.

Negative

• None.

Cloud-based digital due diligence platform strengthens its strategic partnership with Nasdaq through deeper product integrations

NEW YORK--(BUSINESS WIRE)-- Diligend, the award-winning digital due diligence software company, today announced the rebrand of its company, now to be known as Dasseti. The rebrand comes alongside the successful close of its Series A Financing led by Nasdaq Ventures.

Dasseti has demonstrated a very strong year-over-year growth trajectory since launch, adding some of the world’s leading institutional investors, consultants, and asset managers to its client portfolio over recent years. The partnership with Nasdaq Ventures enables the company to grow and support clients globally across the investment sector with innovative and unique solutions.

Wissem Souissi, CEO and Founder of Dasseti, says “We’ve proved to our new strategic shareholders how strong our tailored technology is, how dedicated we are to supporting our clients, and the potential that we have together. We’re excited to work alongside the Nasdaq team to achieve our vision.”

Thanks to new technology advances, the investor due diligence space is moving beyond data collection and storage into data analysis and insight. Diligend’s rebrand to Dasseti, which means “to make visible” in Latin, reflects the way clients can use data to uncover insights and drive decision making.

2022 was a great year for Dasseti, which added new features to its allocator and consultant platform, Collect, and released Respond, a platform for asset managers. Respond reduces the time and risk associated with completing increasingly complex and lengthier DDQs and RFPs. The technology has been well received by IR teams across the asset manager community.

Dasseti has big plans for Collect, as new use cases are emerging for private markets around ESG and DEI data. Collect allows research and due diligence teams to collect, aggregate and analyze large quantities of custom data. The insights gleaned can aid risk management, drive investment decision making and support regulatory compliance.

In addition to joining the Nasdaq Ventures portfolio, Dasseti and Nasdaq clients will realize an increase in workflow efficiency through a deeper product integration with Nasdaq eVestment. Building on the existing software used by asset allocators, the integration will provide a combined view of qualitative and quantitative data in a single pane to help allocators scale their due diligence workflows. With access to eVestment’s industry-leading institutional dataset, Dasseti clients can perform more thorough assessments, compare data and enhance reporting.

“The Dasseti team has created a comprehensive platform that reduces operational risk for investors while making the due diligence process more efficient and scalable,” said Gary Offner, Senior Vice President and Head of Nasdaq Ventures. “We’re thrilled to be strengthening our partnership with Dasseti by both welcoming them into the Nasdaq Ventures portfolio and beginning a richer product integration with Nasdaq eVestment.”

Wissem Souissi agrees saying, “We are already working closely with the Nasdaq eVestment team to enable joint clients to benefit from our partnership. With an unrivalled data portfolio, client base, and market sector expertise, we could not have found a better partner than Nasdaq for our company and clients.”

About Dasseti

Dasseti (formerly Diligend) is transforming investment due diligence and monitoring with a digital platform that facilitates data exchange and analysis at scale.

Dasseti allows allocators to transform and streamline their decision-making process, digitizing, centralizing and optimizing the due diligence and data collection processes. It also allows asset managers to respond faster, with less risk to RFPs and DDQs as well as improve Investor relations.

Dasseti was founded with a vision to transform the way institutional investors and asset managers utilize and exchange information. The platforms use natural language processing, AI and advanced automation to streamline processes and provide greater insights.

Dasseti counts many of the world’s largest asset owners, consultants and managers amongst its clients with over $20 trillion in assets under management.

About Nasdaq Ventures

Nasdaq Ventures is a global venture investing program of Nasdaq, Inc. (Nasdaq: NDAQ) focused on cultivating talent and technology advancement within financial services, spurring innovation that aligns with key themes including anti-financial crime, next-generation marketplaces, ESG, and more. To learn more, visit: www.nasdaq.com/nasdaq-ventures.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230124005318/en/

PR Contact

Fiona Sherwood

fsherwood@dasseti.com

Sales Contact

Wissem Souissi

wsouissi@dasseti.com

Source: Dasseti

FAQ

What is the significance of the partnership between Dasseti and Nasdaq Ventures?

The partnership enhances operational efficiency and data analysis capabilities in investor due diligence, benefiting clients.

How much funding did Dasseti secure in its Series A Financing?

The exact amount of funding in the Series A Financing has not been disclosed in the press release.

What does the rebranding of Diligend to Dasseti signify?

The rebranding reflects Dasseti's commitment to provide unique insights and drive decision-making in investment management.

How does the new technology affect Dasseti's platforms?

The new technology enhances the Collect and Respond platforms, streamlining the due diligence process for asset managers.

What is the total assets under management by Dasseti's clients?

Dasseti's clients collectively manage over $20 trillion in assets.