Portrait Analytics, the startup behind a generative AI research platform for investment analysts, has successfully raised a total of $10 million, led by Unusual Ventures.
This financial boost follows a $3 million pre-seed round in April, which was also led by .406 Ventures. Portrait aims to streamline the research process for analysts, allowing them to reduce the amount of reading required to assess companies and enabling investors to quickly gain expertise on different firms.
The company’s first product is a Q&A-based application that employs generative AI for both search and summarization, specifically designed for public market analysts. This technology extracts and synthesizes essential information from company filings, delivering factual responses that are fully auditable by users.
In the future, Portrait intends for its platform to perform tasks typically carried out by junior investment analysts, such as idea generation, building financial models, and creating memos and pitch decks. Currently, the platform is in private beta, with plans to grant access to analysts on its waiting list in the coming months.
David Plon, CEO of Portrait Analytics, stated: “The rate at which analysts can generate high-conviction investment theses depends on their learning speed. The current research process is cumbersome and largely manual, creating friction for analysts.
AI has the potential to significantly enhance productivity, but simply integrating ChatGPT into existing products won’t suffice. The future AI-powered application must possess a deep understanding of how to think like a proficient analyst, work seamlessly within the analyst’s workflow, and maintain factual integrity. This is exactly what we are developing at Portrait.”