Launched in 2020 by former Carta investor-services employees, Passthrough provides a TurboTax-style workflow to simplify subscription documents and investor onboarding for venture, private equity and other alternative funds. The platform handles subscription document processing, identity verification, sanctions screening and ongoing risk monitoring using an ID system built on more than 200 data points. Passthrough says it has processed billions of dollars in investments for more than 12,000 unique investors and over 250 customers. The product aims to replace fragmented point solutions by offering open APIs and a fully embeddable experience planned later this year to enable enterprise integrations. Competitors include Anduin, Plus Subscribe, AngelList and certain law-firm point solutions, but Passthrough emphasizes custom workflows and interoperability with other providers. The company currently has a 26-person headcount and plans to double that as it scales. Passthrough offers a data-driven subscription document platform that automates the subscription process for private funds, starting with fund-closing software. The platform distributes subscription agreements to investors and enables electronic execution, supporting any subscription agreement. Passthrough’s workflow automation reduces back-and-forth, improves compliance, and produces structured investor data. The company’s stated mission is to organize and structure investor identity information and make that information interoperable. Passthrough is led by Tim Flannery, Alexandre Laplante, and Benjamin Doran; the recent financing is intended to support rapid product growth and to expand the team.

Total raised

$15M

Funding rounds

2

Latest round

Series A

Latest activity

Feb 2023