Maybern Secures $50 Million in Series B Funding Led by Battery Ventures to Build a New Operating System for Private Capital
Funding will accelerate Maybern's development of AI-driven infrastructure that modernizes fund operations amid a boom in the $16 trillion global alternatives market
Maybern, the operating system for private funds, today announced it has raised $50 million in Series B funding, bringing its total funding to date to $76 million. This round was led by Battery Ventures, with participation from Primary Venture Partners, Human Capital, MetaProp, Grafton Street Partners, Camber Creek, and Friends & Family Capital.
As part of the investment, Battery General Partner Marcus Ryu, the co-founder and former CEO of insurtech pioneer Guidewire Software (NYSE:GWRE), will join the company's board. His experience leading enterprise transformation in complex industries aligns directly with Maybern's mission.
"Private markets have evolved rapidly, but the systems that power them have not," said Ross Mechanic, co-founder and CEO of Maybern. "Maybern is defining a new category of fund management software. We're building the back and middle-office infrastructure that gives managers governance, transparency, and traceability, providing the data foundation that makes AI reliable for private markets."
Maybern's mission centers on solving fundamental infrastructure problems in fund management by creating a single performance book of record for fund, investor, and investment data. The company's platform enables fund CFOs to move beyond reactive reporting to deliver strategic insights that drive value for their firms, replacing fragmented spreadsheets and manual processes with automation, controls, and real-time analytics.
In the past year, Maybern has achieved 4.6x year-over-year growth and now supports more than $80 billion in assets under management. Its client roster includes leading fund managers across investment strategies such as private equity, real estate, and credit, including Madison Realty Capital, Gauge Capital, Town Lane, and Derby Lane Partners.
"The multi-trillion-dollar scale and enormous complexity of alternative asset firms relies today on a foundation of Excel and human labor from finance professionals. Ross and Ashwin recognized the opportunity to migrate these intricate calculations and workflows to an AI-ready enterprise software platform — and had the technical, design, and domain expertise to build it," said Marcus Ryu, general partner at Battery Ventures. "I see clear parallels and a comparably sized market opportunity to the core system modernization for P&C insurance led by my former company, Guidewire Software."
Maybern plans to use the new capital to expand its R&D organization and develop AI-driven tooling that further automates fund operations, streamlines audit processes, and enhances reporting capabilities.
About Maybern
Maybern is redefining fund management infrastructure for private equity, private credit, and real estate firms. Built to address the complexity and fragmentation of fund operations, Maybern unifies financial data, automates workflows, and delivers real-time insights that drive better decisions. Founded in New York City, the company is trusted by leading firms managing more than $80 billion in AUM.
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