Credit Suisse Invests in AI-Driven Data Extraction Firm
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Daloopa announced that it has closed $20 million in Series A financing to accelerate its AI-driven data extraction offerings for financial institutions. The new funding round was led by Credit Suisse Asset Management’s NEXT Investors, along with participation from existing investors Nexus Venture Partners, Uncorrelated Ventures, and Hack VC. Daloopa has raised $24 million to date. Credit Suisse Asset Management’s NEXT Investors and Nexus Venture Partners will each assign a member to the Board of Directors.
Data extraction often is a repetitive, complex, technology-less process in a large number of financial services roles where hundreds of thousands of highly-skilled professionals collectively spend millions of hours each year typing data from a file into a spreadsheet. Conventional methods to obtain data from documents are time-consuming and un-scalable. Over 30% of a financial analyst’s time today is spen
AI enhanced Data Extraction Solution Provider Daloopa Secures $20M via Series A from Credit Suisse, Others
Credit Suisse (SWX: CSGN) has reportedly led a $20 million Series A round in
Daloopa, a provider of artificial intelligence enhanced data extraction solutions to hedge fund managers, investment banks, and various other financial institutions.
Based in New York, Daloopa’s tech has been designed to remove the need to perform manual data entry for financial professionals. The company’s solution can identify and extract useable financial data across structured and unstructured documents. The software is supported in many different languages.
The firm’s investment round has been led by
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