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§ Private Profile · New York City, NY, USA
AI-native fund administration platform transforming fund operations for private equity, growth equity, venture capital firms.
Based in New York City, Formulary Financial is an AI-native fund administration platform that provides data management and operational services for private equity, growth equity, and venture capital firms. The company replaces manual administrative workflows with automated systems designed to deliver tailored insights, intelligent fund operations, and reliable reporting to alternative asset managers. In January 2026, the enterprise emerged from stealth by announcing a $4.6 million seed funding round that was reportedly three times oversubscribed. This initial financing was led by Khosla Ventures, with additional equity participation from Acrew Capital, Serena Ventures, Company Ventures, and Alumni Ventures. Prior to establishing the firm, the executive team held leadership roles at Bridgewater Associates and Apollo-backed Edna Technologies. Formulary Financial was founded in 2025 by Chief Executive Officer Alfia Ilicheva and Chief Technology Officer Rick Pianka.
Formulary Financial has raised $4.6M across 1 funding round.
Formulary Financial has raised $4.6M in total across 1 funding round.
Formulary Financial has raised $4.6M in total across 1 funding round.
Formulary Financial's investors include Hari Arul, Acrew Capital, Alumni Ventures, Company Ventures, Human Ventures, Serena Ventures.
Formulary Financial has raised $4.6M across 1 funding round. Most recently, it raised $4.6M Seed in January 2026.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 20, 2026 | $4.6M Seed | Hari Arul | Acrew Capital, Alumni Ventures, Company Ventures, Human Ventures, Serena Ventures | Announced |