Gridline, an Atlanta-based digital investment platform, has closed a $9 million funding round weeks after launching.
With the funds, the company plans to double its staff which currently stands at 16. By expanding its investment, sales and marketing teams, the company hopes to curate a list of offerings across venture capital including crypto funds, private equity and real estate funds.
Gridline is a digital investment platform that focuses on opening up alternative assets to individuals so they can invest in funds traditionally reserved for sophisticated endowments and institutional investors.
The platform pools individual investor commitments directly into a professionally managed fund. By pooling capital, the company lowers their investment minimum to $100,000 whereas traditional minimums would be $1 million.
Investors in the funding round included some big names including the founder of Atlanta Ventures David Cummings, former CEO of AT&T David Dorman and Salesloft CEO Kyle Porter. Participating funds include GC&H Investments, Ardent Venture Partners, Tech Square Ventures and BLH Venture Partners.
The ultimate goal of Gridline is to be the default platform for discovering and deploying investment in the private market.
Gridline was founded in January of 2021 by CEO Logan Henderson. The company was building its tech infrastructure and platform for about a year until it launched and was made publicly available in February.
Of Gridline’s 16 employees, 10 are based in Atlanta. Other employees work from Colorado, New Jersey and Ohio. The company will focus on Atlanta for its next round of hiring.
“The success of the tech scene in Atlanta and the broad expansion of wealth tech is important to us,” said Henderson. “There's a lot of talent so there's an opportunity for growth and build a presence in the Atlanta ecosystem."
