Standard Metrics has Raised $20M in Series B from Its Customers to Accelerate Innovation in the Private Markets

Standard Metrics, an AI‑driven portfolio management platform, led by John Melas-Kyriazi and Deny Khoung, has raised a $20M Series B led by 8VC. Other investors in this round include Salesforce Ventures, Spark Capital, January Capital, First Trust Capital Partners, Socii Capital, Kindergarten Ventures, Calm Ventures, Gaingels, and more. The company has raised roughly $50M to date, and most of that capital has come from its customers.

Why Standard Metrics Exists.

Founded in 2020, Standard Metrics was built around a simple observation from the startup and investment ecosystem: investor relations in private markets remain fundamentally broken.

Trillions of dollars of economic activity still rely on spreadsheets, email threads, and PDFs. Portfolio updates are scattered across inboxes, KPIs live in disconnected spreadsheets, and firms often lack a reliable source of truth for portfolio performance.

These fragmented workflows create significant inefficiencies for CFOs, investors, and auditors. Reporting remains manual, collaboration between portfolio companies and investors is often reactive, LP reporting lacks consistency, and investment decisions can rely too heavily on intuition rather than data.

Improving this infrastructure matters because more efficient private markets can help accelerate technological breakthroughs, new medicines, job creation, and other innovations.

Standard Metrics’ mission is to accelerate innovation in the private markets.

AI is Transforming the Private Markets and Standard Metrics.

Since its founding, Standard Metrics has focused on digitizing one of the private markets’ most persistent pain points: portfolio reporting and management. Over the past six years, the company has built a portfolio management platform and reporting network that replaces spreadsheet-driven processes and legacy software, helping investors gain deeper portfolio insights and automate critical back-office and investment workflows.

The platform also streamlines reporting for portfolio companies. As the network expands, greater scale enables additional time savings, benchmarking, and performance insights.

The rise of AI has significantly expanded this opportunity. New models are changing how financial data can be ingested, organized, analyzed, and acted upon, while accelerating software adoption across an industry that has historically lagged in digitization. AI-native infrastructure could reshape private markets over the coming decade.

Two years ago, Standard Metrics committed to building an AI-native portfolio management platform for venture capital and private equity. That shift led to the development of an MCP server, AI-powered document processing, and agentic reporting and analytics tools. One customer reduced its quarterly reporting process from 15 days to two days by connecting Standard Metrics data to its AI workflows.

Today, Standard Metrics supports more than 150 investment firms managing over $400 billion collectively, along with more than 10,000 portfolio companies. Around 30% of the Forbes Midas List are customers, highlighting adoption among leading investors.

Going Further, Faster.

Standard Metrics has raised a $20 million Series B led by 8VC, with participation from Salesforce Ventures, Spark Capital, January Capital, First Trust Capital Partners, Socii Capital, Kindergarten Ventures, Calm Ventures, Gaingels, and others. The company has raised roughly $50 million to date, with most of the capital coming from customers.

The business has grown approximately 20× since its Series A as investment firms move away from email-driven workflows, spreadsheets, and manual reconciliation toward modern portfolio management infrastructure.

The new funding will accelerate several areas: expanding the platform to centralize more mission-critical data, improving AI-powered document processing, advancing AI Analyst and MCP capabilities for agentic reporting and analysis, and delivering deeper performance insights to both investors and portfolio companies.

The Series B reflects growing conviction that firms adopting AI early will shape the next era of private markets. Standard Metrics plans to use the capital to accelerate that transition.

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