Deckmatch cofounders Walid Mustapha, CTO, and Leo Gasteen, CEO.Deckmatch.
Deckmatch has secured $3.1 million in seed funding from Alliance VC and Luminar Ventures.The startup automates data processing for private market investors to help source deals.BI got an exclusive look at the 13-slide pitch deck the startup used to secure the funding.A startup that helps private market investors automate their work has secured $3.1 million in seed funding.
Norway-based Deckmatch has developed an API that takes unstructured data β such as pitch decks and investment memos βand turns it into structured data. This data can be embedded into enterprise tools and workflows, such as Slack.
For example, the startup’s platform gathers data from pitch decks and sends it to clients’ inboxes, integrating this input into their customer relationship management systems and generating a memo to accompany it.
"It’s doing the donkey work for investors," said cofounder and CEO Leopold Gasteen. "We want to bring what Google has done for search to a relatively narrow subdomain, which is private markets data," he added.
The startup, which launched in 2023, also helps investors source deals. "One of the core features of the enrichments is sourcing similar companies," Gasteen told Business Insider.
Deckmatch’s platform allows users to find similar companies to those involved in the deals submitted on its platform. Its API also answers questions such as, "Find me a startup working in this specific subdomain with a founder that has experience at an S&P500 company," said cofounder and CTO Walid Mustapha.
The startup generates revenue by charging a license fee to access the platform.
While fundraising, the Deckmatch team had a strict rule β they would only accept investment from VCs who were using their platform.
Deckmatch said its $3.1 million seed round was oversubscribed. It was led by Alliance VC and Luminar Ventures, with participation from First Degree Capital and Skyfall Ventures.
With the fresh funding, Deckmatch plans to double down on its research and development efforts.
Check out the 13-slide deck it used to secure the funding.
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Read the original article on Business Insider
{Categories} _Category: Applications{/Categories}
{URL}https://www.businessinsider.com/deckmatch-pitch-deck-seed-funding-private-market-ai-2024-11{/URL}
{Author}rkanetkar@insider.com (Riddhi Kanetkar){/Author}
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{Source}Applications{/Source}
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