About Canopy Financial
Canopy Financial is a company based in San Francisco (United States) founded in 2004. It operates as a B2B. Canopy Financial has raised $70.5 million across 4 funding rounds from investors including Western Technology Investment, Foundation Capital and Spectrum Equity. Canopy Financial has completed 1 acquisition, including CareGain. Canopy Financial operates in a competitive market with competitors including nCino, ION Group, Tuum, Thought Machine and Backbase, among others.
- Headquarter San Francisco, United States
- SectorsFinancial Services
- Website canopyfi.com
- Social Facebook
- Total Equity Funding$70.5M (USD)
in 4 rounds
- Latest Funding Round$62.5M (USD), Series C
Oct 2009
- InvestorsWestern Technology Investment
& 3 more
- Investments & Acquisitions
Funding Insights of Canopy Financial
Canopy Financial has successfully raised a total of $70.5M across 4 strategic funding rounds. The most recent funding activity was a Series C round of $62.5 million completed in October 2009. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $70.5M
- Total Rounds 4
- Last Round Series C — $62.5M
- First Round $15M
(Jan 2008)
- Investors Count 4
All 4 funding rounds of Canopy Financial with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2009 | $62.5M | Series C | – | – | |
| Jan 2009 | $4M | Debt – Venture | – | – | |
| Aug 2008 | $8M | Series B | – | – | |
| Jan 2008 | $15M | Debt – Venture | – | – |
4 investors in total: 4 institutional.
Investors in Canopy Financial
Canopy Financial has secured backing from 4 investors, including venture fund investors. Prominent investors backing the company include Western Technology Investment, Foundation Capital and Spectrum Equity.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Growth equity investments and partnerships in finance and related sectors. | – | spectrumequity.com | - | |
Venture debt is provided globally across multiple sectors. | 1980 | westerntech.com | Portola Valley, United States | |
Venture capital firm focused on early-stage fintech, enterprise, web 3, consumer, and multiple sectors | 1995 | foundationcapital.com | Palo Alto, United States | |
Venture capital is invested in cybersecurity, fintech, and AI startups. | – | ggvc.com | Menlo Park, United States |
Investor details for Canopy Financial
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Investments & Acquisitions by Canopy Financial
Canopy Financial has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include CareGain.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Consumer-directed healthcare accounts are administered via specialized software. | caregain.com | Plainsboro, United States | 2001 | Oct 2008 | •••• |
Complete acquisition details for Canopy Financial
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Timeline of Canopy Financial
4 dated milestones of Canopy Financial across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Canopy Financial is founded.
- Funding First funding round of $15.0M.
- Acquisition Acquires CareGain.
- Funding Latest funding round, Series C, of $62.5M.
Competitors of Canopy Financial
Canopy Financial operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as nCino, ION Group, Tuum, Thought Machine and Backbase, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| ncino.com | 2011 | Wilmington, United States | $221.56M | 1,833 | Cloud-based API platform for banking operations is provided. | |
| iongroup.com | 1998 | New York, United States | $400M | 988 | Treasury management solutions are provided for financial institutions and banks. | |
| tuum.com | 2019 | Tallinn, Estonia | $49.76M | 82 | Cloud-native API-first core banking platform is provided for banks. | |
| thoughtmachine.net | 2014 | London, United Kingdom | $705.69M | – | Cloud-based platform for core banking is developed via APIs. | |
| backbase.com | 2003 | Amsterdam, Netherlands | $128.51M | 2,000 | AI-powered banking platforms are provided for operational growth. | |
| nymbus.com | 2015 | Miami, United States | $195.42M | 221 | Cloud-based core banking solutions are offered to financial institutions. | |
| ohpen.com | 2008 | Amsterdam, Netherlands | $48.16M | – | Developer of cloud-based core banking platform for retail mutual funds and savings accounts | |
| finxact.com | 2016 | Jacksonville, United States | $74.84M | 133 | Cloud-based core banking software is delivered via open APIs. |
Detailed competitors of Canopy Financial
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Latest news on Canopy Financial
Complete news archive for Canopy Financial
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Similar companies to Canopy Financial
10 companies that operate in the same segment as Canopy Financial (Health Insurance Providers), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Offers insurance for health, vehicles, travel, life, and commercial needs. | 2001 | Pune, Maharashtra, India | – | – | 8,624 | |
Operates as a health and general insurance provider. | 2012 | Mumbai, Maharashtra, India | – | – | 2,005 | |
Provision of health and travel insurance services in India. | 2012 | Gurugram, Haryana, India | – | – | 14,959 | |
Auto, home, and health insurance services are provided by AXA. | 1996 | Milano, Italy | – | – | – | |
Healthcare insurance plans and medical network access are provided. | 1998 | Lisbon, Portugal | – | – | – | |
Provision of health insurance services in India. | 2018 | Andheri, Maharashtra, India | – | – | 95 | |
Insurance services are provided to individuals, businesses, and producers. | 1983 | San Juan, Puerto Rico, United States | – | – | – | |
Emergency medical services are delivered to payers and healthcare providers. | 2005 | Oak Brook, Illinois, United States | USD 31.31 M | – | – | |
Workers' compensation network solutions and services are provided. | 1991 | Piscataway, New Jersey, United States | USD 77.73 M | – | – | |
Managed healthcare services are provided to medical schemes and employers. | 1999 | Johannesburg, Gauteng, South Africa | – | – | – |
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Frequently Asked Questions about Canopy Financial
Canopy Financial was founded in 2004 and raised its 1st funding round 4 years after it was founded.
Canopy Financial is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Canopy Financial is a funded company, having raised a total of $70.5M across 4 funding rounds to date. The company's 1st funding round was a Debt – Venture of $15M, raised on Jan 2008.
Canopy Financial manages health-related spending accounts for organizations through offering financial products and advice, fintech, account management, and health spending accounts. Prioritizing client-centric approaches, it ensures high-quality outcomes, innovation, and sustainable practices in its field. It continues to evolve, meeting industry challenges with strategic approaches.
Canopy Financial's top competitors include nCino, Thought Machine and Tuum.
Canopy Financial has made 1 acquisition, including CareGain.
Canopy Financial has 4 investors. Key investors include Western Technology Investment, Foundation Capital, Spectrum Equity, and GGV Capital.