In today’s digital age, companies are managing ever-increasing volumes of data from consumer interactions to complex operational processes. Businesses are generating and collecting more information than ever before. However, this growing data volume presents significant challenges, particularly with unstructured data originating from diverse sources including emails and financial documents. While organizations increasingly depend on data for decision-making, unstructured data is difficult to analyze and transform into actionable insights.??
As with every obstacle, opportunities arise.
Harald Collet
, the CEO and co-founder of
Alkymi
, recognized this potential when he realized that by developing innovative solutions to process and analyze unstructured data, organizations can unlock valuable insights and enhance decision-making capabilities. In 2017, Harald launched Alkymi, the AI/ML-powered system for investment management firms to unlock their unstructured data utilizing the most advanced machine learning and AI technology.
When the NM Future Ventures team analyzed Alkymi’s value proposition, we quickly recognized that it represented not only an appealing investment opportunity but also a potential partnership that could enhance Northwestern Mutual’s internal processes. There were three main reasons why we chose to become both a partner and an investor: ? ?
- User-friendly product: The Intelligent Document Processing (IDP) market is growing significantly due to advancements in machine learning and AI. While many IPD solutions require end-users to possess considerable coding knowledge to utilize their LLMs and other AI-based services, Alkymi uses the prevalent LLMs to develop a no-code IDP solution, making its platform less complex and more rapidly deployable. ?
- Founding team: The founding team at Alkymi brings years of experience and knowledge in business development, finance, product development and commercialization, data science, and software engineering. The CEO,
Harald Collet
, along with his co-founders
Steven She
,
Patrick Vergara
and
Adam Kleczewski
, have spent years in the industry successfully scaling complex enterprise SaaS-based businesses previously. ?
- Synergy of goals: Alkymi’s mission to streamline data processing and extraction aligns perfectly with Northwestern Mutual’s commitment to innovation and efficiency. Northwestern Mutual partnered with
Alkymi
to automate data processing for complex investment and real estate workflows, including promissory notes and bank loan agent notices. This automation has streamlined data ingestion processes, reducing risks associated with manual data entry, while delivering real-time data to its loan management and accounting systems. Alkymi’s platform extracts and validates data, enabling seamless integration with Northwestern Mutual's systems and increasing workflow efficiency. As a result, Northwestern Mutual is in a better position to scale its alternative investments in line with the long-term growth strategy. After an extensive evaluation RFP process, Alkymi was chosen for its ability to meet complex data workflow needs. The collaboration has mitigated operational risks and increased capacity to scale Northwestern Mutual’s investment portfolio.?
We are thrilled to not only have invested in Alkymi but also to be partnering with them and utilizing their cutting-edge technology in our operations. To read more news about Northwestern Mutual Future Ventures recent investments and portfolio companies, follow us on LinkedIn
and X
.??
Congrats Harald ! Now that I left UiPath I would love to catch-up with your technology. I know when you started !!!!
Head of Embedded Finance at Walmart
2 周Congrats! Well done!
Experienced Customer Success, Professional Services, and Technical Support Executive, and early-stage startup mentor. Focus on Enterprise Software, SaaS, Infrastructure, and AI/ML
2 周Tremendously excited to be working with our colleagues at Northwestern Mutual and Northwestern Mutual Future Ventures on this initiative!
Co-founder at Alkymi, unlocking the full value of business data
2 周We are proud to have built such as successful client relationship with Northwestern Mutual - and now with Northwestern Mutual Future Ventures as our strategic investor!