Alkymi raises $5M seed round to deliver first Data Inbox to the enterprise

ML-platform extracts content in email and documents making the data instantly actionable

February 26, 2020, New York, NY - Today, Alkymi announced that it has raised $5M in Seed funding to automatically free data from email and documents through a first-ever Data Inbox for enterprises. Canaan led the round with additional participation from prior investor Work-Bench and new investor SimCorp. Joydeep Bhattacharyya - General Partner at Canaan - will join Alkymi’s board.

Today, half of enterprise work-flow is held up by unstructured data log jammed in email inboxes and employees spend hours everyday processing and synthesizing data. Alkymi’s machine learning-based platform frees that data from email and makes it instantly actionable in existing business processes such as finance, operations, human resources, CRM, sales, and IT.

"Over a 20-year career in enterprise software, I’ve learned that customers want software with transformative impact that is also easy to integrate into existing workflows,” said Harald Collet, Co-founder and CEO of Alkymi.

“Customers tell us that our Data Inbox and self-automated technology frees up their business analysts from data entry to actually do what their jobs should be - generating business insight.”

Alkymi has designed the platform to be intuitive for users - integrating easily into existing workflows without the creation of new apps or processes. As a result, business analysts using Alkymi report that they are able to generate insights twice as quickly, improving retention and satisfaction of their own customers.

"Alkymi Data Inbox has the potential to transform how the enterprise operates in the 21st century,” said Joydeep Bhattacharyya, General Partner at Canaan. “It is incredibly rare to see the kind of traction that Alkymi has with large marquee customers at the seed stage – a testament to both the market opportunity and the superb Alkymi team."

Alkymi is also announcing a new machine learning partnership with global investment software provider SimCorp, an initiative designed to address increasing data challenges for institutional investors. The partnership brings insight and automation to SimCorp’s clients by integrating Alkymi’s technology within the market-leading SimCorp Dimension platform.

"Having worked alongside Alkymi for the past year and having done significant research on the space, it's clear that Alkymi is a one of a kind automated, elegant and ready-to-go solution,” said Jonathan Lehr, co-founder and General Partner at Work-Bench. “We introduced Alkymi to our extensive network of corporate executives and their overwhelmingly positive feedback gave us added confidence that Alkymi is solving a real and timely pain point in unlocking unstructured data from email."

Alkymi was co-founded by Harald Collet who saw this problem from the inside as an executive at Oracle and at Bloomberg L.P., where he launched Bloomberg Vault, a new SaaS product that he grew to more than 1,000 customers in 5 years. Co-founders Adam Kleczewski (Chief Data Scientist) and Steven She (CTO) collaborated at a prior startup, x.ai, building an intelligent personal assistant.

About Alkymi

Alkymi is delivering the first Data Inbox to the enterprise, freeing huge volumes of data from the email morass. Through world-class engineering, data science, and machine learning, Alkymi makes data instantly actionable. The company was founded in 2017 and is based in New York City.