SOURCE: ByAllAccounts


September 08, 2010 09:00 ET

ByAllAccounts Receives $5 Million to Fuel New Growth

ByAllAccounts Sees Growing Demand for Professional-Grade Account Data, From Registered Investment Advisors Automating Back Offices to Large Institutional Users

BOSTON, MA--(Marketwire - September 8, 2010) -  ByAllAccounts, Inc., the financial advisors' choice for account aggregation, today announced that it has received $5 million in Series B funding, led by Castile Ventures, to expand in the advisory market and increase its presence in the institutional market. Skip Besthoff, a general partner at Castile Ventures, will join the ByAllAccounts board of directors. Previous investor Commonwealth Capital Ventures also participated in this round.

ByAllAccounts will use the funding to build on its momentum among registered investment advisors and fuel growth with asset managers, wealth management firms, broker dealers and compliance monitoring firms. ByAllAccounts is the only company dedicated to financial account aggregation for professional use. Its patented technology retrieves financial information from any custodian to deliver the most reliable, accurate, reconciliation-ready financial account data available. ByAllAccounts' data services are currently integrated with more than three dozen wealth management platforms -- portfolio management systems, CRM, reconciliation, personal trading surveillance, trust accounting and other platforms. 

"We've witnessed growth in advisor demand for intelligently automating the exchange of financial account data to increase assets under advisement," said James Carney, president and CEO of ByAllAccounts. "Account aggregation technology has become an indispensible part of the typical advisory firm's workflow. This funding will support our effort to continue our rapid expansion into thousands of firms that can benefit from rapidly, cost-effectively and efficiently putting comprehensive account information on professionals' desktops."

ByAllAccounts expanded its customer base more than 40 percent in 2009. It services more than 600 advisory firms and thousands of advisors through its subscription delivery model. With services focused purely on advisors' need for data that is more consistent and complete than what other services can provide, the company has become the standard for financial account data aggregation.

"Today, more and more investment management professionals recognize the benefits that account aggregation offers, both for themselves and for their clients," stated Besthoff, general partner, Castile Ventures. "ByAllAccounts has established itself as a clear leader in the field, and the team has demonstrated the experience and passion to keep the company at the forefront of this rapidly growing market."

"We are delighted with the tremendous progress the ByAllAccounts team has made since our initial investment," said Justin Perreault, general partner at Commonwealth Capital Ventures. "We look forward to working with ByAllAccounts as they continue to capitalize on the leadership position they have established in the rapidly-growing data aggregation market."

About Castile Ventures

Castile Ventures is a top-performing early-stage venture capital firm that provides financial backing and strategic guidance to help exceptional entrepreneurs build successful technology businesses. Distinguished by the deep business and technology experience of its partners, Castile brings a unique blend of sector expertise, investment know-how, operational insights, connections to IT decision makers, and strong ties to innovators and visionaries. Founded in 1998, Castile currently manages three funds with investments including Agiliance, Ahura Scientific (acquired by Thermo Fisher), Aurora Networks, Brix Networks (acquired by EXFO), ChosenSecurity (acquired by PGP/Symantec), Funambol, GeoTrust (acquired by VeriSign), Network Intelligence (acquired by EMC), RatePoint, SilverStorm Technologies (acquired by QLogic), Sonus Networks (NASDAQ: SONS), Stargus (acquired by C-COR) and Trapeze Networks (acquired by Belden). For more information:

About Commonwealth Capital Ventures

Commonwealth Capital Ventures (Waltham, MA) is a venture capital firm focused on software and software-based services, Internet and digital media, communications technology, and instruments and systems investments in the Northeastern United States. The firm's collaborative investment approach leverages the entire team's venture and operating expertise, experience, and contacts to guide portfolio companies through all stages of their development. Since its inception in 1995, Commonwealth Capital has invested in more than 140 high-growth companies. Commonwealth currently manages over $580 million of committed capital across four funds. For more information, please visit

About ByAllAccounts, Inc.

ByAllAccounts, the financial advisors' choice for account aggregation since 1999, is the only service that retrieves, enriches and consolidates reconciliation-ready account data from any custodian. ByAllAccounts' patented aggregation engine, through which more than $170 billion in assets flows, aggregates all client account data -- from any source -- within an advisor's wealth management platform or trust accounting system for a truly comprehensive view. Thousands of advisors rely on ByAllAccounts to save administrative time and costs, mitigate risk associated with having incomplete information and grow revenues through client referrals and new business development. ByAllAccounts integrates seamlessly with all of the most popular wealth management platforms. For more information, visit

Contact Information

  • Scott Bauman
    Greenough Communications
    Email Contact

    Cynthia Stephens
    781 376 0801 x 130
    Email Contact