The startup Portrait Analytics reported that it managed to attract investments in the amount of $ 3 million in the form of pre-financing.
This startup is developing a research platform based on generative artificial intelligence for investment analysts. The company raised funds based on the results of the financing round led by .406 Ventures.
The research platform is designed to ensure that analysts spend a minimum amount of time researching companies. Also, the goal of the startup is to provide investors with the opportunity to discover firms as quickly as possible and become experts in them.
The company’s first product is an application that functions on the principle of providing answers to questions. In this case, generative search based on artificial intelligence is used. The algorithm for issuing a response to a request provides a generalization methodology for servicing public market analysts.
The technology responds to user requests by extracting and synthesizing key information that is hidden in company documents. Consumers then receive responses that are available for verification.
Portrait states that the technology developed by the startup in the foreseeable future will be able to cope with the set of tasks that represent the content of the professional activity of a junior investment analyst. The technological mechanism will be able to independently generate ideas, develop strategies for financial activity, and write notes and pitch decks.
The platform is currently in closed beta testing. In the coming months, analysts who are on the waiting list will have access to it.
David Plon, CEO of Portrait Analytics, says that the ultimate goal of a startup at this stage of its existence is to create a personal research assistant. This assistant is able to significantly expand the possibilities of searching and subsequent use of information of particular importance for investment research.
Liam Donohue, Co-founder, and Managing Partner.406 Ventures, said that he had talked to dozens of investment analysts to understand which research mechanisms should be improved due to their current inefficiency.
As we have reported earlier, Finanzguru Raises $14 Million to Bolster Financial Advice Platform.