Alkymi

Alkymi

Automates data processes for financial institutions

About Alkymi

Simplify's Rating
Why Alkymi is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Fintech

Financial Services

Company Size

11-50

Company Stage

Series A

Total Funding

$34M

Headquarters

New York City, New York

Founded

2017

Overview

Alkymi provides automation tools specifically designed for the financial services industry, focusing on improving data management and operational efficiency. Its main product, the Alkymi Data Inbox, uses active learning technology to automate repetitive tasks, which reduces the need for manual data entry. This allows financial professionals to concentrate on more important work. Alkymi serves various clients, including banks and investment firms, helping them navigate complex regulatory requirements and manage risks. The company offers enterprise-ready solutions that integrate with existing systems and operates on a subscription-based model, ensuring ongoing support and updates for its clients. Alkymi stands out by tailoring its tools to fit the unique workflows of each client, making the transition to automation easier. The goal of Alkymi is to enhance efficiency, compliance, and data accuracy in financial operations.

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Simplify's Take

What believers are saying

  • Growing demand for automated data workflows in financial services.
  • Strategic partnerships enhance Alkymi's service offerings.
  • Recognition as a top innovative fintech startup boosts credibility.

What critics are saying

  • Competition from fintech startups using generative AI.
  • Rapid AI evolution may require continuous R&D investment.
  • Data privacy concerns could lead to regulatory scrutiny.

What makes Alkymi unique

  • Alkymi automates unstructured data workflows without technical expertise needed.
  • Their Alpha product uses generative AI for financial data analysis.
  • Alkymi's solutions integrate seamlessly with existing financial systems.

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Funding

Total Funding

$34M

Above

Industry Average

Funded Over

3 Rounds

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Above Average

Industry standards

$15M
$8.2M
Discord
$15M
Canva
$21M
Alkymi
$100M
GitHub

Benefits

Employer-paid health, vision, and dental premiums

Company-sponsored 401(k) plan

Generous vacation policies

Remote-first company

Parental leave

Career advancement & educational opportunities

Growth & Insights and Company News

Headcount

6 month growth

-2%

1 year growth

2%

2 year growth

2%
The Drawdown
Nov 1st, 2024
Alkymi launches fund tracking tool

Alkymi launches fund tracking tool.

PR Newswire
Oct 24th, 2024
Alkymi Selected as One of '100 Most Innovative Fintech Startups' by CB Insights

"Alpha Alternatives has been delighted to partner with Alkymi this year as a trusted implementation partner, providing our mutual clients an unparalleled combination of strategic services and advanced technology."

PR Newswire
Feb 14th, 2024
Alkymi Announces Strategic Partnership With Lionpoint Group

NEW YORK, Feb. 14, 2024 /PRNewswire/ - Alkymi, the leading business system for unstructured data, today announced a strategic partnership with Lionpoint Group ("Lionpoint"), a global consulting firm to the alternative investments industry, to provide mutual financial services clients an unparalleled combination of strategic services and advanced technology.

PR Newswire
Jan 9th, 2024
Thompson Street Capital Partners Selects Alkymi To Accelerate Data Analysis

Generative AI Enables TSCP to Capture More In-depth Information, FasterNEW YORK, Jan. 9, 2024 /PRNewswire/ -- Alkymi, the leading business system for unstructured data, has been selected by Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, to expedite their data review processes utilizing Alkymi's new generative AI product, Alpha.TSCP sought to accelerate their review of industry and market information, which includes analyzing large amounts of unstructured data. TSCP reviews hundreds of reports and information sources annually to better understand markets, spot industry trends, and identify potential opportunities for their firm, and doing so quickly, efficiently, and accurately is essential to TSCP's success.TSCP selected Alkymi and their Alpha product, a generative AI tool built for financial services teams and powered by cutting-edge large language models, for their ability to expedite data review and processing, as well as extend the types of information that they were able to capture.Ray Wagner, Managing Director, TSCP, commented, "We are thrilled to be partnered with the Alkymi team. Alkymi's Alpha product allows us to efficiently review and analyze vast amounts of information and enhance the accuracy and consistency of our processes. Alpha enables us to quickly sift through unstructured data to focus on the information that matters most, and make decisions faster, without sacrificing the quality of our analysis.""We designed Alpha for firms like TSCP to embrace large language models to not only speed up manual review processes, but to expand the level of data they are able to get," says Harald Collet, CEO of Alkymi

PR Newswire
Jul 12th, 2023
Alkymi Launches Alpha, A Generative Ai-Powered Solution Built For Financial Firms Proprietary Data Sets

Alpha enables financial services firms to get instant answers utilizing next-generation large language models.NEW YORK, July 12, 2023 /PRNewswire/ -- Alkymi, the leading business system for unstructured data, today announced the launch of Alpha, a generative AI-powered solution that allows financial services teams to uncover instant answers from documents and proprietary data sets through an interactive chat experience and structured workflows. Using Alpha, customers will be able to accelerate critical business activities such as conducting due diligence, interpreting investment performance, crafting quarterly reports, as well as answering client inquiries.Until now there has been no way to securely apply large language models (LLMs) to targeted documents and data sets in financial services with a turnkey workflow. Due to these concerns, financial services firms have had to sacrifice access to insights that could have a major impact on business outcomes.Alkymi has solved this challenge by allowing firms to create their own unique, private, and secure data sets from over 25 supported file formats for data mining and insight generation. Alpha helps customers systematically generate answers from these document data sets in a user friendly way. Alkymi is empowering customers to use LLMs with confidence, keeping their data encrypted and ensuring it is not used to train a model. To build confidence in model output, answers can be traced directly back to their sources in documents.Customers get insights instantly and can continue to drill down for more context where needed while being assured of the security of their proprietary data

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