Boosted.ai, a cutting edge generative artificial intelligence company that works with some of the world’s leading investment managers to streamline and automate their financial analysis and workflows announced the closing of a $15 million financing round.
The financing included certain fund(s) managed by Fidelity Investments Canada ULC and all of Boosted.ai’s existing institutional shareholders. The certain fund(s) managed by Fidelity Investments Canada ULC will join existing partners Ten Coves Capital, Spark Capital, Portage Ventures, Royal Bank of Canada (RBC) and HarbourVest Partners in the round. Many of Boosted.ai’s investors are active and enthusiastic users of Alfa. Inclusive of seed capital, Boosted.ai’s total funding now stands at $61 million.
The investment is focused on the growth of Boosted.ai’s agentic AI platform – Alfa. Agentic AI is essentially an AI coworker that users can train to think like them and consistently monitor and update for anything that matters to their portfolios. By using Boosted.ai and its agentic assistant Alfa, users across the finance spectrum, including asset managers, wealth managers, family offices and hedge funds, can automate their workflows reducing what typically takes 40 hours of analyst work to approximately 20 minutes. Capital will also be used to invest in additional systems and team members to handle increased product demand and the need for onboarding and training new users.
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Alfa builds on Boosted.ai’s roots. At its founding in 2017, Boosted.ai offered proprietary machine learning algorithms to a primarily quant client base. By expanding to simple-to-use AI agents that think like the user, it goes beyond standard AI with finance-specific data, in-line citations that work to reduce hallucinations, and continuous and proactive monitoring that keeps its users always in the know.
Co-founded by Joshua Pantony, Jon Dorando and Nicholas Abe, Boosted.ai currently serves more than 300 active clients managing in excess of $3 trillion in assets across the institutional and wealth management space. Boosted.ai’s clients use their industry-leading AI platform in a variety of ways including as an analytics, research and decision making tool, outsourced quant consultancy, commentary creation vehicles, risk monitoring for their portfolios and now, with their agentic AI product Alfa – automating workflows across their day.
Joshua Pantony said: “From day one, our clients have been asking for AI that truly mirrors their thinking. This latest investment from our client base enables us to further enhance Alfa, our agentic AI platform, empowering finance teams to conduct deeper research, leverage broader analytics, integrate more data, and ultimately focus on higher-level, strategic work.”
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Source – Businesswire
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