🇸🇪 Grasp: Announcing our $7 million Series A
We’re excited to announce our $7 million Series A led by Octopus Ventures, with participation from Yanno Capital, to build the AI Analyst powering the future of finance.
From our own experiences, we’re convinced that AI will fundamentally transform current workflows in finance. That’s why we founded Grasp in 2020 – to build the AI Analyst transitioning finance from being human capital to technology centric. We’ve never been more excited about the opportunity to achieve this transition than we are today. An effective AI Analyst in finance needs to work well with spreadsheets, tool use, and writing code – tasks that have seen a step-change in AI performance this year.
Grasp’s AI Analyst is an agent system that uses tools to perform tasks, much like a human would. It manages workflows end-to-end – from sourcing trusted information, to wrangling data in spreadsheets, to synthesizing insights in polished PowerPoint slides. Our customers can now do more with less: pitch more proactively, run more projects in parallel, and deliver higher-quality results. We’re proud that our AI Analyst is already used by almost 200 investment banks, management consultancies, and private equity firms across the world – including large global banks, and most of the Big 4s and MBBs. These firms are not only seeing significant reduction in manual research time, they’re also improving output quality. For example, uncovering otherwise overlooked buyers, precedent transactions or targets.
With this funding, we’ll accelerate product development and expand our commercial reach. Our AI analyst will gain new capabilities – from end-to-end commercial due diligence to creating pitch decks and investment memorandums. At the same time, we make sure our users are in full control through enterprise-grade security, trust, and transparency. We’re also rapidly expanding our commercial capabilities, most recently marked by the opening of our London office.
If you’re an investment bank, PE firm, or management consultancy looking to significantly cut manual research time and improve results, we want to talk. We’re also hiring across the organization – if you’re inspired by transforming one of the largest sectors of the global economy with AI, reach out.
Thank you to our customers, investors, and above all, our hugely dedicated and talented team. This is just the beginning.
Originally published on 28 October by Grasp.
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