Investment analysis involves synthesizing large amounts of text, video, and audio. The use of AI enables financial professionals to expand the universe of data that they can incorporate into their analysis and workflows. AgentSmyth is a financial automation platform built specifically for the finance industry that serves as a powerful AI-powered assistant for financial analysis. The platform handles both qualitative research and in-depth quantitative analysis, saving countless hours. For example, AgentSmyth can provide a robust pre-market open macro summary for the markets in less than 30 seconds while providing comprehensive individual ticker-level equity research in 2.5 seconds. Financial professionals can spend their time interpreting data instead of collecting it. Priced at $30 per day, the company initially targets the sell side with plans to expand the offering to serve the needs of the entire finance industry.
AlleyWatch caught up with AgentSmyth CEO Pulkit Jaiswal to learn more about the business, the company’s strategic plans, recent round of funding, and much, much more…
Who were your investors and how much did you raise?
Seed – $2.5M.
Tell us about the product or service that AgentSmyth offers.
AgentSmyth is a financial automation company specializing in various aspects of financial analysis—from macro research to sector and ticker-level analysis for public equity trading and wealth management. Our insights are delivered through a series of AI agents, each fine-tuned for specific roles within equities research.
What inspired the start of AgentSmyth?
I’ve traded on geopolitical volatility for about five years while also having founded a leading consumer intelligence and alternative data company called NWO.ai. My cofounders at AgentSmyth, Daniel McCooey and Michael Block, are Wall Street veterans. Starting AgentSmyth was a natural progression for us, given our collective backgrounds and our vision for agentic software in financial analysis.
How is AgentSmyth different?
I believe we are the first company to build a full suite of agents, each trained to master a different dimension of financial analysis—whether it be writing up earnings forecasts or option flow analysis to gauge interest around key events. But the true power of AgentSmyth comes from our ability to have all of these agents collaborate autonomously to solve problems. This is where the outcomes become nonlinear in nature. Within a couple of weeks of launching the project, we are already seeing brilliance in the outputs that would excite a number of key stakeholders on both the buy side and the sell side.
What market does AgentSmyth target and how big is it?
Initially, our target market is the sell side, followed by the buy side.
What’s your business model?
We offer unlimited consultations with our agents for $30/day, and internal deployment within organizations on proprietary data for $60/day.
How are you preparing for a potential economic slowdown?
Our services are designed to thrive in both bull and bear markets, resembling a ‘Bloomberg on steroids’. We’re well-positioned to become even more crucial during economic downturns.
What was the funding process like?
This wasn’t my first fundraising experience, but it was notably smooth. We secured funding from strategic investors who provide us access to a broad customer base. We raised the capital from three investors in total.
What are the biggest challenges that you faced while raising capital? What factors about your business led your investors to write the check?
In today’s genAI-driven market, being beyond the pre-product and pre-PM fit stages is essential. Our readiness in these areas made our fundraising straightforward and stress-free.
What are the milestones you plan to achieve in the next six months?
We are currently being trialed by top sell-side desks on Wall Street. Our goal is to establish ourselves as the gold standard in financial analysis within the next six months.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Strip away unnecessary product features and sprints, and focus on what truly matters to customers. Then, optimize your workforce accordingly. Aim to extend your runway to at least 12 months, assuming no revenue.
Where do you see the company going now over the near term?
Over the near term, we see AgentSmyth solidifying its position as a trailblazer in the financial analysis sector. Our immediate focus is to enhance our existing AI agents and expand their capabilities to deliver even more sophisticated analyses. We aim to deepen our penetration in the sell side market, establish a strong presence on the buy side, and continuously improve our technology to stay ahead of industry trends. Ultimately, we’re striving to set a new standard for precision and efficiency in financial analysis, ensuring that our clients receive the most accurate and actionable insights possible.
What’s your favorite restaurant in the city?
Odeon.
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- Source: https://www.alleywatch.com/2024/04/agentsmyth-finance-automation-platform-financial-analysis-equity-research-pulkit-jaiswal/
