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Daloopa trains AI to automate financial analysts’ workflows
Daloopa, a startup building AI to extract info from financial reports and investor presentations, has raised cash in a new funding round.
Thomas Li was working at Point72, the hedge fund founded by notorious investor Steve Cohen, when he realized that the financial industry relies heavily on manual data entry processes that could be prone to errors. Daloopa on Tuesday announced that it raised $18 million in a Series B funding round led by Touring Capital, with participation from Morgan Stanley and Nexus Venture Partners. With the new funding, which brings NYC-based Daloopa’s total raised to $40 million, the company plans to grow its team of ~300 employees, bolster product R&D and expand its customer acquisition efforts.
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