Nasdaq Private Market (NPM) runs a full-service platform that supports structured liquidity programs, trading, settlement, and data services for private-market participants. To date, the company has executed almost $70 billion in transaction volume for more than 200,000 eligible employee shareholders and investors, spanning over 900 company-sponsored liquidity programs. Its technology facilitates secondary transactions and other liquidity events, giving private companies a means to manage equity and provide shareholder liquidity prior to an IPO or exit. Management, led by CEO Tom Callahan and CFO René Paula, plans to scale operations, invest in product innovation around secondary transactions, enhance global distribution, and integrate AI tools. The firm reports that its valuation has quadrupled since its Series B round in 2024, underscoring rapid growth and increasing market demand. With fresh capital, NPM intends to accelerate platform enhancements and expand its international reach, further embedding itself in the private-market ecosystem.

Total raised

$100M

Funding rounds

2

Latest round

Series C

Latest activity

Jan 2026