Grasp raises $7M Series A to fuel international expansion
Stockholm-based AI startup Grasp has secured $7 million in a Series A funding round, bringing its total funding to $9 million. This investment, led by Octopus Ventures, will fuel the company's international expansion and development of its AI-driven platform. The company aims to automate workflows in investment banking and management consulting, marking a significant step in the application of AI within the European financial sector. Grasp, founded in 2020 by former McKinsey consultants Richard Karlsson and Johan Devér, along with Ericsson AI engineer Simon Hällqvist, employs a multi-agent platform. The platform connects AI agents to essential tools and datasets to automate complex tasks for finance professionals. This automation streamlines processes like company research and presentation creation, potentially impacting a global market valued at $1.4 trillion. Grasp's platform targets professionals by reducing manual labor while improving output quality. The company has seen a 3.5x annual recurring revenue (ARR) growth over the past year. Grasp serves nearly 200 customers across 30 countries, including most of the Big Four consulting firms. This latest funding round will allow Grasp to broaden its product offerings and expand its sales teams.
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