Canoe challenges manual data extraction and management, unveils innovative AI technology for alternative investors
NEW YORK – OCTOBER 17, 2018 – Canoe Intelligence (Canoe), today unveiled first-of-its-kind technology to eliminate manual data entry for alternative asset investors. Canoe’s technology allows institutions, LPs, and family offices to automate data extraction and data management and refocus capital and human resources on business performance and growth.
“Canoe is leading the charge against manual data entry,” said Seth Brotman, Canoe CEO. “Investors demand solutions to reduce the burdens of manual data extraction and management,” said Brotman. “Canoe is that solution. By leveraging artificial intelligence, we empower allocators of all sizes to make better use of their teams’ capital resources and time. Canoe helps allocators make faster, more informed decisions and grow their businesses more efficiently.”
Today’s sophisticated allocators manage complex portfolios including scores of alternative investments such as hedge funds, private equity and venture capital. As a result, allocators are inundated with up to 50,000 documents annually, containing 200,000 or more critical transaction, valuation and performance data points. Firms have historically relied on teams of individuals or offshore groups to manually manage data extraction and document storage, leading to industry-wide frustrations due to errors, latency, spiraling costs, and lack of control.
Canoe solves these problems using a scalable and proprietary AI engine. Canoe’s technology recognizes, validates and extracts unstructured investment data across asset classes, ownership structures, and document types. The data is organized digitally for easy and immediate access, and can be seamlessly fed into any portfolio reporting, accounting, and analytics platforms. Most importantly, Canoe frees up valuable human capital previously burdened by manual data processes, allowing firms to redirect talent to business and investment tasks.
More information and schedule a demo here.
About Canoe Intelligence
Canoe’s technology allows institutions, LPs, and family offices to automate data extraction, data management and other operational processes and refocus capital and human resources on business performance and growth. Canoe’s AI-driven platform was developed in 2013 for an alternative investment research firm and today is relied upon by more than 70 institutional investors, advisors, and family offices. www.canoesoftware.com