Alkymi Raises $21M Series A led by Intel Capital

We’re thrilled to announce our Work-Bench portfolio company Alkymi has raised a $21M Series A round led by Intel Capital.

Our thesis when first investing in Alkymi was that despite years of digitization, large enterprises still spend billions of dollars on manual document processing that create stubborn barriers to automation and miss insights around transactions, risks, and relationships. Today, ~90% of data is unstructured and ~60% of workers estimate they could save 6+ hours per week (almost a full workday) if the repetitive aspects of their jobs were automated.

Alkymi’s Data Inbox and Patterns Studio solves this time suck by allowing non-technical users to apply machine learning to automate processes with no-code intelligent data processing for documents, email, and file data. Their ‘Data Action Layer’ creates actionable data enabling enterprises to build products, power services, and deliver greater outcomes for their customers. Just this year, Alkymi users created over 200,000 data automations on the platform.

Alkymi’s team has lived and breathed these pain points firsthand having come from Bloomberg, Two Sigma, and x.ai. Now, Alkymi is on track to grow 300% this year with large public enterprises (like Interactive Brokers and SimCorp), scale-ups (like Asset Vantage), and more than 20 channel partners (like Ingram Micro). 

Congratulations to the Alkymi team! Read more on their blog.