Boosted.ai, has raised $15 million for its generative artificial intelligence (AI) tool for investment managers.
The new funding, announced Monday (Nov. 25), is focused on expanding Alfa, the company’s agentic AI platform.
“Agentic AI is essentially an AI co-worker that users can train to think like them and consistently monitor and update for anything that matters to their portfolios,” Boosted said in a news release.
“By using Boosted.ai and its agentic assistant Alfa, users across the finance spectrum, including asset managers, wealth managers, family offices and hedge funds, can automate their workflows, reducing what typically takes 40 hours of analyst work to approximately 20 minutes.”
Founded in 2017, Boosted.ai initially offered proprietary machine learning algorithms before expanding to simple-to-use AI agents that think like the user. The company said its offering provides users with finance-specific data, in-line citations that work to reduce hallucinations, and continuous, proactive monitoring.
“From day one, our clients have been asking for AI that truly mirrors their thinking,” said Joshua Pantony, CEO of Boosted.ai.
“This latest investment from our client base enables us to further enhance Alfa, our agentic AI platform, empowering finance teams to conduct deeper research, leverage broader analytics, integrate more data, and ultimately focus on higher-level, strategic work.”
Co-founded by Pantony, Jon Dorando and Nicholas Abe, Boosted.ai serves more than 300 active clients managing assets worth more than $3 trillion in the institutional and wealth management space.
PYMNTS spoke with Pantony earlier this year about the rise of Nvidia as it joined the ranks of the world’s largest companies. He said that the firm’s growth potential is closely linked to the extent of AI adoption.
“The technology — though we certainly believe it is extremely transformative — is still in its infancy, but as people continue to discover the efficiency gains AI can offer, increased demand will fall on the computing power required to handle these tasks,” Pantony said.
“There’s a reason everyone from Meta to the government of Canada is buying all the chips they can get their hands on — use cases and everyday use will continue to expand.”
Meanwhile, PYMNTS wrote last week about the increasing use of AI agents in customer service at major companies, making decisions that, until recently, required human managers.
“While traditional AI approaches have centered around assistance, the ability for AI agents to reason, decide and take action will amplify results,” Archana Kannan, senior vice president of product for work messaging app Slack, told PYMNTS.
“Ultimately, agents are going to transform how every user gets their job done, particularly the mundane, common tasks like automating projects, new hire onboarding, generating content or managing IT incidents.”
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