Juniper Square, a California-based provider of connected fund software and services for private markets, has raised US$130 million in a Series D funding round led by Ribbit Capital.

The latest investment brings the company’s valuation to US$1.1 billion.

Other participants in the round include Fifth Wall, with continued backing from Blue Owl Capital, Redpoint Ventures, HighSage Ventures, and additional investors.

The funding will be directed towards advancing Juniper Square’s development of JunieAI, an enterprise-grade artificial intelligence solution designed specifically for general partners (GPs) in private markets.

JunieAI integrates large language models with Juniper Square’s fund system of record, structured data models, workflows, industry integrations, and built-in controls for security and permissioning.

Alex Robinson, CEO and Co-Founder of Juniper Square, said:

“The private markets are undergoing a once-in-a-generation transformation driven by two tsunamis of change: the rise of the retail investor and the breakthrough potential of AI. Our mission is to equip GPs with the technology and services they need to thrive in this new era. With JunieAI, we’re helping our customers stay ahead, turning disruption into opportunity across every facet of work inside of the modern GP.”

The investment follows a period of strong growth for Juniper Square, which reported over 100% compound annual growth in its fund administration business over the past three years.

The company now manages over 2,000 fund entities globally, with particular traction in the private equity and venture capital segments, four of its five largest clients by revenue operate in these sectors.

In May, the firm expanded its operations to Luxembourg, supporting cross-border fund administration and providing additional services to global private market clients.

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