Press Release October 6, 2022
Business users will transform their own workflows and make faster decisions with the Data Action Layer
NEW YORK, Oct. 6, 2022 /PRNewswire/ -- Alkymi, the leader in data workflow automation, has raised $21 million in Series A funding led by Intel Capital with participation from existing investors Canaan, Work-Bench and SimCorp. Intel Capital's Investment Director Dave Mueller will join Alkymi's Board of Directors, applying his expertise in enterprise technology and go-to-market to scale the company's growth.
More than 80% of the world's data will be unstructured by 2025—and just 0.5% of these resources are being analyzed and used today (1). In the enterprise, unstructured data creates urgent roadblocks for business workflows resulting in operational bottlenecks, costly inefficiencies, poor customer experiences, and employee churn – massive challenges for enterprises in any market environment.
That's why Alkymi is creating the Data Action Layer - a first-of-its-kind layer that turns real-world unstructured data into actions, making it possible for both technical and non-technical users to automate their own data workflows cost-effectively and easily. By supercharging workflows, Alkymi enables enterprises in financial services, healthcare, technology, energy and transportation to seamlessly automate processes with no-code intelligent data processing for documents, email, and file data.
"We're proud that industry leading enterprises have selected Alkymi to transform their business by accelerating data workflows up to 10x faster," said Harald Collet, CEO and Co-founder of Alkymi. "Our customers appreciate the impact that Intel Capital brings to Alkymi with their track record of building successful data-driven companies that are shaping the future. Intel Capital will help us deliver on our vision, which is to change how work in the enterprise gets done."
"At a time when enterprises are inundated with a massive volume of unstructured data moving through their organization, Alkymi empowers its users with the tools to transform this 'dark' data into valuable strategic assets," said Mark Rostick, Vice President and Senior Managing Director at Intel Capital. "Alkymi reduces technical, operational, and economic barriers by placing machine learning and automation technology into the hands of business users."
"The need to meet high customer expectations while adhering to regulatory and business requirements is a challenge for any enterprise," commented Yochai Korn, Global Head of Market Data and Research at Interactive Brokers. "Alkymi's Data Action Layer gives us the ability to transform the client experience and offer entirely new data products to our customers and partners."
The Series A funding – which brings the company's total financing to $26 million – will allow Alkymi to expand its hiring efforts in product development and go-to-market to scale its offerings. This financing round comes on the heels of a year of major accomplishments, including users enabling 45 million data actions on the platform, growing revenues 300%, and being recognized by KPMG as the top "Private Enterprise Tech Innovator" in the U.S.
For more information, visit www.alkymi.io.
Alkymi is building the Data Action Layer and transforming enterprise workflows by placing machine learning and automation technology into the hands of business users, turning operational data headaches into a source of efficiency. Alkymi's core products – Data Inbox and Patterns Studio – allow businesses to extract, analyze and take action on critical business data in emails and documents. Leading organizations deploy Alkymi to accelerate decision-making, improve customer satisfaction and empower employees to focus on higher value, more rewarding work. For additional information, visit www.alkymi.io.