$5m Raise for Alternative Investment Data Firm Tetrix

In the US, alternative investment data provider Tetrix has raised $5m in a seed round of funding, with which to expand its proprietary data extraction and analysis platform.

Tetrix' clients are institutional investors in private markets: the firm taps AI to automate the extraction of key financial and qualitative information from fund and company reports, then provides 'clear, actionable investment analytics and insights' via a single user interface. Tetrix says that partners in private markets process more than 100 million PDFs each year, and that these reports are all structured differently, 'making data extraction, normalization, and analysis tedious and prone to error' and yielding 'suboptimal investment decisions' as well as wasting time.

The firm was founded by Stanford and Harvard alumni Olivier Babin and Naunidh Singh. CEO Babin comments: 'The investment landscape has shifted from public markets to private markets, which have quadrupled in assets in the past decade, and the technology infrastructure that investors need hasn't kept up. Tetrix leverages the latest developments in AI to reduce time to actionable investment data from 45 days to 1 day, save capital allocators 4,000+ hours annually in human labor, and provide them 10x deeper insights on their alternative investment portfolio'.

The round was led by Innovation Endeavors with participation from angels from Blackrock, CPPIB, SoftBank, Lending Club, and Plaid.

Web site: www.tetrix.co .