Grasp
Generative AI assistant for financial advisory workflows.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor | €0.0 | round | |
* | $1.9m | Seed | |
| Total Funding | 000k | ||
| SEK | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 |
| % growth | - | - | 203 % | 51 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 |
| % profit margin | - | - | 19 % | (3 %) |
| EV | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
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Grasp is a Swedish startup offering a generative AI platform tailored for the financial advisory industry, specifically targeting investment banks and management consultants. Founded in Stockholm in 2020 by former McKinsey consultants Richard Karlsson (CEO) and Johan Cederqvist Devér (CCO), along with AI engineer Simon Hällqvist (CTO), the company aims to enhance productivity by automating complex and time-consuming tasks. The founders' backgrounds in management consulting and AI engineering directly inform the platform's focus on solving workflow inefficiencies within the financial sector.
The company's core product is an AI assistant, delivered as a SaaS solution, that utilizes proprietary generative AI and language models. It is designed to streamline financial workflows, automate research, and assist with tasks like buyer and target screening. The business model is subscription-based, and since its launch in December 2023, the company has reported rapid customer acquisition. As of May 2024, Grasp served 25 companies across 15 countries, including the USA, UK, and Canada.
In May 2024, Grasp announced it had raised approximately €1.7-1.9 million in a seed funding round from investors Yanno Capital and Philian Invest to accelerate platform development and global expansion. The company reported reaching an annual recurring revenue (ARR) of over 3 million SEK by that time.
Keywords: generative AI, financial advisory, investment banking, management consulting, AI assistant, financial technology, SaaS, workflow automation, research automation, financial analysis, productivity software, target screening, market research, AI platform, corporate finance, M&A, due diligence, European startup, financial services, consulting technology