Today, Eilla AI, a generative AI platform for financial decision-making in private markets, announced that it has raised $1.5m in Seed funding.
The platform assists M&A, venture capital, and private equity professionals with financial research, analysis, and document creation, making it easier to make money.
Eilla AI's technology automates these processes by mirroring industry professionals using generative AI. The platform also unlocks new insights and supports complex decision-making through aggregation and analysis of large amounts of information from various sources in significantly less time than is currently possible.
It's a growing trend of tech used to aid financial decision making. In September, Vega, a UK-based wealth tech platform, launched with over $8 million in equity investment.
To date, Eilla AI has been used by advisors and investors from more than 50 M&A banks and VC and PE funds to help optimise specific tasks by researching, aggregating, and analysing information from key industry sources and internal data.
According to Nikola Lazarov, CEO at Eilla AI:
"The bottom line is that financial professionals are paid to think, not waste time on mundane tasks.
But the amount of time and effort it takes a junior at a financial firm to map out the companies in a specific industry, for example, can spiral quickly.
We tackle this problem by analysing all of the essential information and then providing a report in the appropriate format for our clients.
The funding round was led by Eleven Ventures and supported by Fuel Ventures, with additional investment from Mark Pearson, Founder & Managing Partner at Fuel Ventures, in an individual capacity.
Svetozar Georgiev, General Partner at Eleven Ventures, said:
"The daily work of M&A, VC and PE professionals hasn't evolved much in the past 30 years, dominated by lots of manual data retrieval and analysis, as well as mundane document creation. Eilla's generative AI platform is a total game-changer which will provide superhuman productivity.
What previously took hours and days will take minutes, enabling people to focus on human interactions instead. We are excited to be leading Eilla AI's seed funding round and work with its talented team, which uniquely combines deep AI expertise with M&A domain knowledge."
The funding will help the company expand its technical team and product offering, positioning the business for growth across the M&A, venture capital, and private equity markets.
Lead image via Eilla AI. Photo: Uncredited.
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