Foresight, a New York City-based software company focused on connecting the private market through data, has announced the close of a $5.5 million seed funding round led by New Enterprise Associates (NEA), with KDX Ventures also participating. In conjunction with the financing, Madison Faulkner, a partner on NEA’s Technology Investing Team, will join Foresight’s board of directors.Founded in 2023, Foresight’s platform enables private market investors, lenders, and acquirers to leverage data for financial decisions regarding private companies. Its proprietary AI-driven data mesh integrates information from over 50 sources and applications, including third-party sourcing feeds, CRMs, cap table vendors, shared drives, company Key Performance Indicators (KPIs), and fund accounting software. This consolidated data forms a unified source of truth, which is then integrated into dashboards, analytics, and modeling tools within Foresight’s Software-as-a-Service (SaaS) applications for sourcing, diligence, and post-investment portfolio management.Jason Miller, Founder and CEO of Foresight, commented on the market’s current state, stating, “Private markets are fragmented—filled with point solutions and siloed data. Everyone is chasing the elusive ‘single pane of glass’ to make sense of it all. But unifying and structuring that data into a seamless, usable knowledge graph was a fundamental, unsolved problem until Foresight.” Miller, a West Point graduate and Army veteran, has a background in building technology for private markets, including tenures at BlackRock, Point72, and Greycroft, where he identified the prevalent issue of data silos.Adam Devine, Foresight Co-founder and CRO, added, “The private market is at the inflection point that every industry goes through during the adoption of new technology and the shift to becoming data-driven. Foresight helps every type of private company investor, banker, and acquirer to become powered by data and will enable new ways for market participants to engage, collaborate and transact with one another.” Devine has a history as a serial entrepreneur and has led go-to-market strategies for multiple AI-driven enterprise software companies.Since its launch with founding customers in April 2023, Foresight’s software has been implemented by prominent venture capital and private equity firms, including Forerunner and Kleiner Perkins. The company has also established partnerships with several major data and services providers in the private market.Madison Faulkner, Partner at NEA, expressed confidence in the investment: “We believe Foresight enables every type of private company investor, banker, and acquirer to become data-driven. I have known Jason for years as an industry expert with a deep understanding of how to effectively use data in the private markets. When NEA first saw Foresight’s product, we quickly understood the firm-wide value it could deliver—from investing to services and operations. We’re thrilled to partner with Jason, Adam, and the team as they work to deliver precision around structured data for private market-focused businesses.”Foresight intends to utilize the newly acquired capital to expand its product and go-to-market teams. The company is headquartered in New York City with an additional presence in San Francisco. NEA, a global venture capital firm founded in 1977, manages over $27 billion in assets and invests across technology and healthcare sectors from seed stage through IPO.