Nasdaq Ventures led the Series A financing round for cloud-based digital due diligence platform Diligend, which is rebranding to Dasseti.
Founded four years ago as a pure software player by Wissem Souissi, a former eVestment executive, the firm began working with allocators to collect data on a one-to-one basis over a digital platform. Dasseti, which means “to make visible” in Latin, reflects the way clients can use data to uncover insights and drive decision making.
In addition to joining the Nasdaq Ventures portfolio, Dasseti and Nasdaq clients will benefit from deeper product integration with Nasdaq eVestment. Building on the existing software used by asset allocators representing over $20 trillion in assets under management, 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, officials said.
“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,” said Dasseti’s Souissi. We’re excited to work alongside the Nasdaq team to achieve our vision.”
This year the team 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 platform has also had a great deal of ESG-oriented adoption. Going forward the firm plans to expand its Collect platform that will focus on ESG and DEI data within private markets.
“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.”
