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Portrait Analytics raises $7m for launch of AI research platform

Portrait Analytics raises $7m for launch of AI research platform

Portrait Analytics, the startup behind a generative AI research platform for investment analysts, has brought its total capital raised to $10 million with an investment led by Unusual Ventures.

The new capital injection comes on the heels of a $3 million pre-seed raise in April led .406 Ventures.

Portrait is aiming to help analysts cut back on the reading needed to research companies, accelerating the speed at which investors can discover and become experts on firms.

The startup's first product is a Q&A-based application that incorporates both generative AI search and summarisation to serve public market analysts. The technology responds to users’ tasks by extracting and synthesising key information buried in company filings to produce factual responses that are fully auditable by users.

Eventually, Portrait claims it will be able to perform any task asked of a junior investment analyst, including suggesting ideas, building financial models, and writing memos and pitch decks.

The platform is in private beta, with plans to release access to analysts on a waiting list in the coming months.

David Plon, CEO at Portrait Analytics, says: “The rate at which analysts can generate high-conviction investment theses is driven by their speed of learning. The problem which all analysts face today is that the research process designed to generate these learnings is largely manual and full of friction.

"AI has the potential to act as a bandwidth multiplier but that won’t be achieved by simply bolting ChatGPT onto existing products and data flows. The AI-powered application that will make this future a reality will need to have deep expertise on how to think like a well-trained analyst, be delivered in a UX that fits neatly into the analyst workflow, and above all else, be factual and trustworthy. This is precisely what we’re building at Portrait.”

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