US-based alternative investment platform CAIS has raised $100m in financing from Reverence Capital Partners.

CAIS will use the fresh infusion to further invest in technology, digitise product operations for fund managers and financial advisers, and improve personalised experiences for its customers.

The investment follows the firm’s $225m funding round in January, which took its valuation to over $1bn. The round was led by Apollo and Motive Partners and also involved the participation of Franklin Templeton.

CAIS founder and CEO Matt Brown added: “Reverence Capital Partners has a long and successful track record as an investor in the independent wealth management community and understands the unique needs of both financial advisers and alternative asset managers.

“We are excited to have Reverence join our distinguished list of investors and look forward to tapping into the extensive knowledge and network that Milton and his team will bring to CAIS moving forward.”

Alternative assets have become increasingly popular in the global investable market in recent years. According to CAIS, transaction volume on its platform surged by 69% over the last year while the number of users on the platform rose by 29%.

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Reverence Capital Partners managing partner Milton Berlinski said: “CAIS is an industry leader providing the resources and infrastructure needed to enhance access, education, execution, and reporting to these complex solutions. We are excited to build on our partnership with this management team as CAIS continues to scale.”

Berlinsk secured a seat on CAIS’ board as part of the deal.

This February, Focus Financial Partners tapped CAIS to roll out a customised alternative investments platform for its partner firms.