JERUSALEM, March 25 (Reuters) - Fundguard, an Israeli

AI-based platform that helps asset managers, banks and their

service providers to manage mutual funds, hedge and pension

funds and other investments, said on Monday it had raised $100

million in a private funding round.

The Series C round was led by Key1 Capital and new investors

including Euclidean Capital and funds managed by Hamilton Lane ( HLNE )

. Existing strategic investors Citi and State Street

also participated, plus the company's earliest financial

investors such as Blumberg Capital and Team8.

Fundguard said the funds raised would be used for ongoing

investment in product innovation and continued expansion of its

operations.

Israeli media reported that the round was made at a company

value of up to $400 million.

The startup, launched in 2018, said it has raised more than

$150 million to date, made new client acquisitions and opened

company offices in Boston, London and Toronto.

Fundguard said it was transforming investment operations by

leveraging cloud-native technology and AI capabilities to

modernize and streamline investment accounting operations and

workflows and migrate to the cloud.