Grasp raises $7M to advance its multi-agent AI for finance

Grasp has raised $7 million in a Series A funding round. The AI startup will use the capital for international expansion. Octopus Ventures led the investment. Existing investor Yanno Capital also participated in the round. This brings Grasp's total funding to $9 million.

The company targets the $1.4 trillion investment banking and consulting market. Professionals in this field often spend significant time on manual tasks.

Grasp builds a multi-agent AI platform to automate these complex finance workflows. It was founded by former McKinsey consultants and an Ericsson AI engineer. Its system connects specialized AI agents to trusted data and tools. This process helps find relevant companies and generate deeper insights. The platform produces ready-to-use spreadsheets and PowerPoint presentations.

Grasp serves nearly 200 customers across 30 countries. The company saw its annual recurring revenue grow 3.5 times in the last year.

The new funding will help grow its product and sales teams.