Nomerra, a private markets operations platform, founded by former bunch executives Johannes Gebendorfer and Jakob Zacherl, building AI agents for asset servicers and managers, has raised $2m in funding.
The round was led by 14Peaks Capital, with participation from Redstone Fintech and individuals from firms including KKR and Intapp.
The capital will be used to grow Nomerra's engineering team and meet rising demand for AI solutions among enterprise asset servicers and managers across Europe and the United States.
Gebendorfer and Zacherl were among the first employees at bunch, a tech-enabled fund administrator backed by more than $50m, where they helped grow the team past 100 people and expand the business across Europe. It was in those roles that the pair witnessed how AI could reshape private market operations, prompting them to launch Nomerra to bring similar change to the wider industry.
The founders identified a structural gap between public and private markets: while public markets benefit from standardisation and efficient record-keeping, private markets still rely on data being manually re-entered across disconnected systems and spreadsheets, sometimes several times over for a single transaction.
This burden has grown as private markets have become more complex, with new investor channels, more frequent reporting obligations, tighter regulation, semi-liquid and evergreen structures, and expansion into new asset classes all adding to operational demands.
Firms have traditionally responded by hiring more staff, yet the pool of qualified accountants has shrunk by a third over the past decade even as private markets are projected to triple in size within five years.
Nomerra is addressing this by applying AI to the high-volume, manual tasks that underpin enterprise asset servicing and management, including fund accounting, treasury and transfer agency.
The platform integrates with the systems firms already rely on, such as ERPs, banking platforms, email and document storage, consolidating this information into a single context layer that gives AI agents the same visibility a human operator would have. Within this setup, Nomerra's agents follow each firm's existing operating procedures, reading documents, extracting relevant data, verifying it across sources, and producing outcomes comparable to those of a trained employee. Firms can deploy the agents through familiar tools or via background processes that run continuously.
Nomerra intends to shift staff away from producing deliverables and towards reviewing them. Its agents handle execution from start to finish and present results through dedicated review interfaces that include a full audit trail showing what was completed, the reasoning behind it, and the source of the underlying data.
Over time, the company expects the review process itself to become more supervisory, with teams overseeing groups of Nomerra agents capable of completing entire deliverables independently.
Johannes Gebendorfer, co-founder and CEO of Nomerra, said, 'Think of how telephone operators used to connect one caller to another by plugging cables into a switchboard.
'Today, the fact that humans once routed every phone call manually is hard to imagine. Private market operations are at the same turning point. In a few years, people will look back and wonder how any of this was ever done by hand.'