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On Wed, 27 Nov, 12:01 AM UTC
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Boosted.ai Raises $15 Million to Grow Investment Management Platform | PYMNTS.com
Boosted.ai, has raised $15 million for its generative artificial intelligence (AI) tool for investment managers. The new funding, announced Monday (Nov. 25), is focused on expanding Alfa, the company's agentic AI platform. "Agentic AI is essentially an AI co-worker that users can train to think like them and consistently monitor and update for anything that matters to their portfolios," Boosted said in a news release. "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." Founded in 2017, Boosted.ai initially offered proprietary machine learning algorithms before expanding to simple-to-use AI agents that think like the user. The company said its offering provides users with finance-specific data, in-line citations that work to reduce hallucinations, and continuous, proactive monitoring. "From day one, our clients have been asking for AI that truly mirrors their thinking," said Joshua Pantony, CEO of Boosted.ai. "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." Co-founded by Pantony, Jon Dorando and Nicholas Abe, Boosted.ai serves more than 300 active clients managing assets worth more than $3 trillion in the institutional and wealth management space. PYMNTS spoke with Pantony earlier this year about the rise of Nvidia as it joined the ranks of the world's largest companies. He said that the firm's growth potential is closely linked to the extent of AI adoption. "The technology -- though we certainly believe it is extremely transformative -- is still in its infancy, but as people continue to discover the efficiency gains AI can offer, increased demand will fall on the computing power required to handle these tasks," Pantony said. "There's a reason everyone from Meta to the government of Canada is buying all the chips they can get their hands on -- use cases and everyday use will continue to expand." Meanwhile, PYMNTS wrote last week about the increasing use of AI agents in customer service at major companies, making decisions that, until recently, required human managers. "While traditional AI approaches have centered around assistance, the ability for AI agents to reason, decide and take action will amplify results," Archana Kannan, senior vice president of product for work messaging app Slack, told PYMNTS. "Ultimately, agents are going to transform how every user gets their job done, particularly the mundane, common tasks like automating projects, new hire onboarding, generating content or managing IT incidents."
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Boosted.ai secures over £12m to boost investment management with AI | bobsguide
Generative AI tool for asset managers, wealth managers, and hedge funds to expand with new funding Boosted.ai has raised $15 million (£12.3 million) in a new funding round aimed at accelerating the growth of its innovative AI platform, Alfa. The latest investment, announced this week, will focus on expanding Alfa's capabilities to further streamline investment management workflows, enabling users to automate time-intensive tasks. The financing round saw participation from a range of high-profile investors, including Fidelity Investments Canada ULC, alongside existing partners such as Ten Coves Capital, Spark Capital, Portage Ventures, Royal Bank of Canada (RBC), and HarbourVest Partners. With the inclusion of this latest round, Boosted.ai's total funding to date reaches $61 million (£50 million), further solidifying its position as a frontrunner in AI-driven financial technology. Alfa, Boosted.ai's core offering, is an agentic AI platform designed to function as an AI-powered assistant that learns to think and act like its user. The platform continuously monitors and updates key financial data, empowering asset managers, wealth managers, family offices, and hedge funds to automate workflows that traditionally would require up to 40 hours of analyst work. With Alfa, tasks that would typically take analysts days to complete can now be accomplished in a fraction of the time -- around 20 minutes. "We've always had clients requesting an AI that mirrors their own thinking," said Joshua Pantony, CEO of Boosted.ai. "This latest investment from our client base allows us to enhance Alfa, helping finance teams to conduct deeper research, integrate more data, and ultimately focus on high-level strategic decisions." Since its inception in 2017, Boosted.ai has evolved from offering proprietary machine learning algorithms to providing an intuitive AI platform that is accessible to users across the financial spectrum. Alfa's advanced features include finance-specific data integration, in-line citations to reduce hallucinations, and continuous proactive monitoring, all designed to keep users fully informed and efficient in managing their portfolios. The company currently serves over 300 active clients who collectively manage more than $3 trillion (£2.46 trillion) in assets. These clients leverage Boosted.ai's platform for a variety of applications, including analytics, research, decision-making, risk monitoring, and even automating routine tasks like portfolio commentary generation. With this new funding, the company plans to enhance its system architecture and expand its team to support growing demand for its AI-powered solutions. "The potential of AI is still in its infancy, but as adoption grows, so too will the demand for the computing power needed to support these advanced use cases," Pantony added, referencing the expanding role of AI in global industries.
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Boosted.ai raises $15 million to expand Alfa, its agentic AI platform for investment managers. The funding aims to streamline workflows and automate tasks in the financial sector.
Boosted.ai, a company specializing in generative artificial intelligence (AI) tools for investment managers, has successfully raised $15 million in a new funding round 12. The Toronto-based firm, founded in 2017, plans to use this investment to expand and enhance its agentic AI platform, Alfa.
Alfa is designed to function as an AI co-worker that users can train to think like them. It continuously monitors and updates information relevant to investment portfolios 1. The platform aims to streamline workflows for various financial professionals, including asset managers, wealth managers, family offices, and hedge funds.
One of the most striking features of Alfa is its ability to dramatically reduce the time required for complex analytical tasks. According to Boosted.ai, the platform can compress what typically takes 40 hours of analyst work into approximately 20 minutes 12. This efficiency gain allows finance teams to focus on higher-level, strategic work.
Boosted.ai's offering provides users with:
The latest funding round saw participation from notable investors, including:
This investment brings Boosted.ai's total funding to $61 million, reinforcing its position in the AI-driven financial technology sector 2.
Boosted.ai has experienced significant growth since its inception. The company now serves over 300 active clients who collectively manage more than $3 trillion in assets 12. These clients utilize the platform for various applications, including analytics, research, decision-making, and risk monitoring.
With the new funding, Boosted.ai plans to enhance its system architecture and expand its team to support the growing demand for AI-powered solutions in finance 2. Joshua Pantony, CEO of Boosted.ai, emphasized the transformative potential of AI in the financial sector, noting that its impact is still in its early stages 1.
The success of Boosted.ai reflects a larger trend of AI integration in the financial industry. As companies continue to discover the efficiency gains offered by AI, the demand for advanced computing power is expected to increase 1. This trend aligns with the growing use of AI agents in various sectors, including customer service, where AI is increasingly making decisions that previously required human managers 1.
Brightwave, an AI startup, has raised $15 million in Series A funding to enhance its AI-powered financial research platform, which uses a knowledge graph and generative AI to provide insights for asset managers and financial professionals.
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Jump, an AI solutions provider for financial advisors, has raised $20 million in Series A funding to enhance its AI-powered tools, streamline advisor workflows, and meet growing market demand.
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US venture capital investments have reached a three-year high, driven by enthusiasm for artificial intelligence. However, the funding is heavily concentrated in a few large tech companies, raising questions about the sustainability and impact of this investment trend.
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9fin, a London-based fintech, raises $50 million in Series B funding to enhance its AI-driven analytics platform for global debt capital markets, aiming to revolutionize the industry with advanced technology and expand its U.S. presence.
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Desia, a startup founded by Scalapay co-founder Simone Mancini, has raised $3.3 million in seed funding. The company aims to develop AI applications to enhance decision-making processes for investment professionals.
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