Allocate announced it closed a $30.5 million Series B round from investors including Portage Ventures, Andreessen Horowitz and Fika Ventures. The raise brings the company’s total funding to $64 million and comes as its platform has grown to more than $2.5 billion in assets.
Palo Alto-based Allocate provides an operating system for private market investing, equipping wealth advisors and institutional family offices with AI-driven tools to source, build and manage high-quality portfolios. Its offerings include curated access to private opportunities, white-label fund creation and portfolio insights. The platform is designed to reduce complexity, increase efficiency and improve transparency in private markets.
With the new funding, Allocate plans to expand its AI and workflow automation capabilities, add integrations to drive adoption and broaden its coverage beyond venture capital into private equity and private credit. The company, which serves more than 1,200 wealth advisory firms and family offices, has also strengthened its leadership team and intends to scale its product and client success functions as demand for its solution grows.
