The startup making your inbox smarter
Alkymi is a machine learning-powered data inbox designed to automatically extract unstructured data from inputs like email, process it, and incorporate it into an enterprise’s workflow. Alkymi was founded in 2017 and raised a $5M seed round in Feb. 2020.
Why is Alkymi interesting?
Alkymi is interesting because it is solving a known problem with limited wide-scale and successful solutions. When I worked in Corporate Strategy at a F500 company, I saw firsthand the amount of time analysts spent on transferring data from emails and PDFs into files, which is inefficient and prone to errors. If that time could be given back by automating these tasks, it allows analysts to spend their time interpreting data to generate business insights vs. spending time on data entry and processing.
Alkymi has a large serviceable market
While the company is currently focused on the financial services industry where the experience of the founders lies, the data platform is applicable across industries creating a large serviceable market. The program can be applicable to most core corporate functions like finance, human resources, operations, sales, and IT, which can be found at practically all companies.
The company has a proven ROI for its customers
The success of the company lies in its ability to generate an ROI for its customers, and based on current studies, the company boasts a 50% ROI which is stated to even improve over time through additional automation. Also, for a company at the seed stage round, it has been able to onboard reputable customers, which helps back-up the company’s value proposition and fuel its growth.
The founders are addressing a problem in the market that they have faced in their previous roles, and come from established backgrounds proving their technical and entrepreneurial talents as seen with CEO Harald Collet’s background scaling Bloomberg’s Vault cloud product.
In summary, Alkymi’s large serviceable market creates strong white space for the company as it continues to scale its proven product with its measured ROI and experienced team.
