About Passthrough
Passthrough is a Technology company based in Middletown (United States) founded in 2002 by Alex Laplante, Benjamin Doran, and Tim Flannery, and was acquired by iCapital in February 2026. It operates as a fund closing and automated subscriptions for private funds are facilitated. Passthrough has raised $15 million across 2 funding rounds from investors including Okta, iCapital and Positive Sum. Its chief executive is Benjamin Doran. Its website passthrough.com draws about 19 thousand monthly visits. Passthrough offers products and services including Electronic Subscription Documents, KYC/AML Service, and 31 CFR Compliance. Its focus areas include FinTech, Investment Tech, Private Funds IT and Fund Incorporation. Its competitors include Vauban and Rivver; 1 of its 2 listed competitors has raised funding.
Company details
Passthrough was founded in 2002 in Middletown, United States, focusing on solutions for private fund administration. Tools for documentation, execution, regulatory compliance, workflow management, and account validation are provided to support attorneys, investors, and general partners. Communications across the network are streamlined to enable submission of subscription contracts, with operations centered on automating fund closings in the financial services sector.
- Headquarters Middletown, United States
- Founders Alex Laplante, Benjamin Doran, Tim Flannery
- Stage Acquired
- SectorsTechnology
- Email••••••••
- Website passthrough.com
- Social LinkedIn
- Acquired by iCapital (Feb 2026)
Products & Services of Passthrough
Passthrough offers a comprehensive portfolio of products and services, including Electronic Subscription Documents, KYC/AML Service, and 31 CFR Compliance.
Automates creation and management of subscription documents for funds.
Screens beneficial owners and manages anti-money laundering compliance.
Handles regulatory requirements for fund compliance programs.
Funding Insights of Passthrough
Passthrough has successfully raised a total of $15M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $10 million completed in December 2022. 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 $15M
- Total Rounds 2
- Last Round Series A — $10M
- First Round $5M
(Feb 2022)
- Investors Count 14
All 2 funding rounds of Passthrough 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 |
|---|---|---|---|---|---|
| Dec 2022 | $10M | Series A | – | Positive Sum | |
| Feb 2022 | $5M | Series A | – | Positive Sum |
15 investors in total: 7 institutional and 8 angel.
Investors in Passthrough
Passthrough has secured backing from 15 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Okta, iCapital and Positive Sum.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital firm investing in early stage and later stage gaming companies | – | positivesumvc.com | Seattle, United States | |
Venture capital funding is provided to early-stage companies and entrepreneurs. | – | foolventures.com | Alexandria, United States | |
Tech focused early-stage micro VC firm investing in the US | – | greatoaksvc.com | New York, United States | |
Venture capital investment in fintech startups | – | broadhaven.vc | San Francisco, United States | |
- | – | companyventures.co | - | |
Cloud-based identity management and authentication are provided for enterprises. | 2009 | okta.com | San Francisco, United States | |
Software solutions are provided for managing private investments. | 2013 | icapital.com | New York, United States | |
SK Samir Kaji | Indian-American angel investor, fintech expert, and CEO of Allocate | – | unknown_a7ca6679911c4db4b | - |
JS Josh Smith | Indian angel investor with focus on early-stage startups | – | unknown_e931b85717d844a09 | - |
MB Marshall Boyd | Angel investor focusing on Indian startups, based in Bangalore. | – | unknown_25e07de19b4f420ab | - |
Investor details for Passthrough
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
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Verified entity values are shown only after access is granted.
People of Passthrough
24 people are tracked at Passthrough (6 in leadership, 18 in team).
| Name | Role | Group |
|---|---|---|
Alex Laplante | Founder | Leadership |
Benjamin Doran | Founder & CEO | Leadership |
Tim Flannery | Co-Founder & CEO | Leadership |
Ben Doran | COO & Co-Founder | Leadership |
Garrett Butler | Head of Client Operations | Leadership |
Benny Weisman | Head Of Sales | Leadership |
Joseph Tibbertsma | Software Engineer | Team |
Tiago L. | Software Engineer | Team |
Claudia Wadolowski | Operations Lead | Team |
Rachel Lappen | Marketing Development Representative | Team |
Pamela Castillo | Client Support Manager | Team |
Courtney Rogers | Client Support Manager | Team |
Michael Peterson | Account Executive | Team |
Ricardo Busquet | Software Engineer | Team |
Julius Leiman-Carbia | Legal Advisor | Team |
Noah Ezer | Onboarding Manager | Team |
Samantha Umani | Onboarding Manager | Team |
Andrew Rindler | Account Executive | Team |
Delia Thai | Client Support Manager | Team |
Patrick Robertson | DevOps Engineer | Team |
4 more people are available in the full profile.
Complete people profiles for Passthrough
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of Passthrough
4 dated milestones of Passthrough across 24 years, from founding to its latest funding, stage changes and deals.
- Founded Passthrough is founded.
- Funding First funding round of $5.0M.
- Funding Latest funding round, Series A, of $10.0M.
- Exit Acquired by iCapital.
Competitors of Passthrough
Passthrough has 2 listed competitors in our database, 1 of them funded. They include Vauban and Rivver, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| vauban.io | 2017 | London, United Kingdom | $9.48M | 34 | A portfolio management platform for private market investments is offered. | |
| rivver.io | 2018 | Tel Aviv, Israel | – | – | Securities issuance and fund administration platform is operated. |
Detailed competitors of Passthrough
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Web traffic of Passthrough
The website of Passthrough (passthrough.com) receives about 19.1K visits a month.
- Monthly visits19.1K
▲ 20.1% vs previous month
Top companies in Investment & Financial Technology
10 companies that operate in the same segment as Passthrough (Investment & Financial Technology), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Commission-free trading and investment services are provided by Robinhood. | 2013 | Menlo Park, California, United States | USD 5.58 B | USD 2.98 B | 4,841 | |
Online exchange platform for cryptocurrency | 2017 | Ta Xbiex, Malta | USD 2.02 B | – | 14,747 | |
Online social trading platform for cryptocurrency, stocks, ETFs, and CFDs | 2007 | Tel Aviv, Tel Aviv, Israel | USD 422.94 M | USD 925.73 M | 2,713 | |
Financial data and investment advisory tools are offered online. | 1984 | Chicago, Illinois, United States | USD 91 M | USD 351.25 K | 6 | |
App-based brokerage stock trading platform | 1996 | Mumbai, Maharashtra, India | USD 38.41 M | USD 548.9 M | 3,830 | |
App-based platform for spare change investment | 2012 | Irvine, California, United States | USD 587.84 M | – | 602 | |
Smart investment portfolios are offered via an online platform. | 2015 | Bengaluru, Karnataka, India | USD 121.05 M | USD 635.51 K | 231 | |
App-based automated investment and retirement planning platform | 2010 | New York, New York, United States | USD 335 M | – | 674 | |
Money Forward is engaged in providing financial technology solutions. | 2012 | Minato, Tokyo, Japan | USD 42.9 M | USD 322.51 M | 2,600 | |
Wealth management solutions are delivered for investment advisors. | 2009 | Mountain View, California, United States | USD 759.1 M | – | 1,524 |
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Related news about Passthrough
Complete news archive for Passthrough
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Frequently Asked Questions about Passthrough
Passthrough was founded in 2002 and raised its 1st funding round 20 years after it was founded.
Passthrough is headquartered in Middletown, United States.
Benjamin Doran is the current CEO of Passthrough. They have also founded this company.
Passthrough is a funded company, having raised a total of $15M across 2 funding rounds to date. The company's 1st funding round was a Series A of $5M, raised on Feb 2022.
Passthrough was founded in 2002 in Middletown, United States, focusing on solutions for private fund administration. Tools for documentation, execution, regulatory compliance, workflow management, and account validation are provided to support attorneys, investors, and general partners. Communications across the network are streamlined to enable submission of subscription contracts, with operations centered on automating fund closings in the financial services sector.
Passthrough offers Electronic Subscription Documents, KYC/AML Service, and 31 CFR Compliance.
Passthrough has 15 investors. Key investors include Okta, iCapital, Positive Sum, Motley Fool Ventures, and Broadhaven Ventures.
Yes. Passthrough was acquired by iCapital in February 2026.