Portrait Analytics, a Boston, MA-based AI-powered research analyst, raised $7 million in a seed funding round led by Unusual Ventures.
Existing investor .406 Ventures and select hedge fund professionals also participated in the round. This investment brings Portrait's total capital raised to $10 million.
Portrait's platform aims to resolve the challenge faced by investment analysts of limited mental bandwidth to process a vast amount of data and extract key insights to build investment thesis. The platform helps analysts sift through thousands of companies to find the most promising investment ideas based on their style.
“The job of an analyst is to discover and build conviction in investment ideas,” said David Plon, CEO at Portrait Analytics. “The rate at which analysts can generate high-conviction investment theses is driven by their speed of learning. The problem which all analysts face today is that the research process designed to generate these learnings is largely manual and full of friction. AI has the potential to act as a bandwidth multiplier but that won’t be achieved by simply bolting ChatGPT onto existing products and data flows. The AI-powered application that will make this future a reality will need to have deep expertise on how to think like a well-trained analyst, be delivered in a UX that fits neatly into the analyst workflow, and above all else, be factual and trustworthy. This is precisely what we’re building at Portrait.”
Portrait’s platform is in private beta with leading asset managers, with plans to release access to analysts on its waiting list in the coming months.
Company: Portrait Analytics
Raised: $7.0M
Round: Seed Round
Funding Month: July 2023
Lead Investors: Unusual Ventures
Additional Investors: .406 Ventures
Company Website: https://portrait-analytics.com/
Software Category: AI-powered Research Analyst
About the Company: Founded in 2022 by David Plon and Connell Gough, Portrait Analytics is a developer of a generative AI platform for investment research and thesis creation. The company’s mission is to accelerate and deepen powerful investment research by building a generative AI research assistant for every investor.
Source: https://www.globenewswire.com/news-release/2023/07/20/2708145/0/en/Portrait-Analytics-Raises-7-Million-in-Funding-to-Transform-Investment-Research.html