Our Investment in Finpilot: Reimagining the Financial Analyst’s Journey With AI

Today, we are thrilled to announce Madrona’s investment in Finpilot, a revolutionary AI product designed to serve as the copilot for financial analysts. Our excitement for Finpilot is fueled by our own experience, having spent many late nights grappling with the laborious process of sifting through disparate data sources, validating information, and then aggregating the data to create models, charts, or summaries.

We have built deep respect for Co-founder and CEO Lakshay Chauhan, who we’ve gotten to know over the last year, and Co-Founder and Chairman John Alberg, who we have known for over two decades — dating back to when Madrona invested in John’s first company, Employease, which sold to ADP in 2002.

John later founded Euclidian Technologies, an investment management firm that uses ML to evaluate individual companies as long-term investment opportunities. Lakshay joined John as Euclidian’s senior ML engineer, where he was responsible for building and managing the tech platform for quantitative investing models. Together, Lakshay and John possess an unparalleled depth of knowledge in ML and product development while understanding how to navigate the intricacies of financial institutions.

We believe the timing couldn’t be more opportune for Finpilot. Financial workflows are ripe for disruption, and LLMs present a transformative opportunity that was previously deemed unattainable. Today, financial analysts grapple with arduous tasks that impede productivity, from sifting through disparate data sources to creating exhaustive chart outputs — a process rife with inefficiencies and limitations.

This is where Finpilot comes in. Today, Finpilot offers two products:

1. Web-based AI Chat Tool: Serving as a treasure trove of knowledge, Finpilot empowers analysts to swiftly search and query answers across a multitude of sources – from SEC filings to call transcripts to investor reports. With its chat-style interface, analysts can engage in long-form conversations, receive tailored recommendations for questions to ask, and even upload their own documents for analysis. The system functions as a personalized assistant that can summarize information, create charts, and ultimately enhance productivity and streamline workflows. Finpilot does this all while citing down to the cell level where information comes from, so there is no question about hallucination.
2. Task Agents: Building on its foundation, Finpilot also plans to build out task agents – a revolutionary feature designed to tackle complex, multi-step tasks autonomously. From generating investment reports to automating data analysis, these agents empower analysts to delve deeper into their insights.

With billions of dollars spent on financial analysts across the U.S. alone, we believe a tremendous opportunity exists to reimagine traditional financial analyst workflows. Finpilot is the ultimate copilot that allows financial analysts to spend more time analyzing information — the job that is most exciting.

We are thrilled to embark on this journey with Lakshay and John and couldn’t be more excited about the company’s mission. Our belief in Finpilot is also backed by a core belief at Madrona about GenAI applications. We believe applications that immediately provide time, work, and cost savings for the end user — be that a financial analyst, developer, or marketer — will make early proven progress in the enterprise. These applications need to easily integrate into existing workflows and systems, and Finpilot does just that. If you are working on any financial analysis, you should give the demo a try here!