OnCorps AI raises $55 million to expand agent fund management for asset managers
OnCorps AI, the leading agent AI platform for fund management, has secured $55 million in growth funding from Long Ridge Equity Partners, a growth equity firm with deep experience in financial and business technology. The company will use the capital to accelerate product innovation, expand its go-to-market team, and expand its infrastructure to support its rapidly growing customer base.
Founded in 2011, OnCorps AI primarily serves asset managers and fund administrators, providing intelligent exception resolution for fund operations. The platform not only detects discrepancies in trade adjustments and fund documentation, but also autonomously investigates root causes, provides recommendations to resolve issues, and learns from patterns to prevent future disruptions.
“For years, we have been running complex AI solutions in production for some of the world's largest asset managers, and the results have shown us significant benefits in delivering tangible benefits from AI,” said Bob Suh, founder of OnCorps AI. “Every day, our systems close exceptions, reconcile trades, and monitor trillions of assets with high accuracy and low error rates. Longridge's investment will allow us to extend these capabilities across a broader industry.”
OnCorps' expert AI agents are trained on millions of real-world data discrepancies and exceptions across trade processing, funds accounting, and reporting workflows. This in-depth domain training, combined with continuous learning from production, enables OnCorps to achieve accuracy rates and exception resolution times that cannot be achieved with general-purpose automation tools.
Wealth management operating margins have declined in recent years due to rapidly increasing trading volumes, increasing regulatory requirements, and continued fee reductions. As part of their efforts to drive efficiency, PIMCO, GMO, and other leading institutions (with $13 trillion in assets) turn to OnCorps to reduce manual tasks and streamline fund operations.
In connection with this investment, Long Ridge Managing Partners Jim Brown and Kevin Bhatt will join the OnCorps AI Board of Directors.
“OnCorps AI has built a market-leading AI platform for fund management,” said Jim Brown. “Production-ready agents are trained on domain-specific data and workflows to deliver immediate operational value. We look forward to partnering with Bob and the OnCorps team as we scale our business.”
This funding will enable OnCorps to expand into adjacent capital markets workflows where customers face similar challenges, such as cash management, regulatory reporting, and complex transaction processing.
