New York, New York--(Newsfile Corp. - October 1, 2024) - Wokelo, a leading AI-powered platform designed to amplify the intelligence gathering process on companies, markets and industry value chains, today announced a minority equity investment from KPMG LLP, a global leader in audit, tax, and advisory services.
Wokelo accelerates the research and intelligence gathering process with GenAI to provide comprehensive, credible insights. This collaboration combines Wokelo's large language model (LLM)-based technology and agentic workflows with KPMG's deal advisory and strategy expertise, allowing companies to make faster investment and strategic decisions with enhanced confidence.
"Wokelo continues to gain traction among large enterprises by facilitating the seamless transformation of large and diverse data sets into actionable insights," said Siddhant Masson, CEO of Wokelo. "Our AI-driven platform accelerates the research and synthesis required to make sound strategic choices in today's dynamic environment, and working with KPMG enhances the value we can deliver to customers."
By combining AI-powered insights with KPMG's domain expertise, this collaboration creates added value for companies, empowering them to evaluate deals with greater confidence to improve their strategic and financial positioning.
According to the KPMG 2024 M&A Mid-year survey, 42% of dealmakers report using GenAI as part of the dealmaking process. In anticipation of potential interest rate cuts and more favorable market conditions dealmakers are turning to GenAI to synthesize vast swaths of data, informing their investment and strategic decisions with greater speed and accuracy.
"AI is enhancing our approach to both the front-end of dealmaking and post-close integration as it allows us to more swiftly and holistically identify new sources of value for our clients," said Carole Streicher, Head of Deal Advisory at KPMG US. "Together, Wokelo and KPMG are setting a new standard in data analysis and intelligence gathering to provide more comprehensive, actionable and strategic advice."
KPMG Ventures is dedicated to collaborating with and investing in early-stage start-ups in areas like AI, data, cybersecurity, and sustainability.
"Our investment in Wokelo exemplifies our commitment to harnessing cutting-edge technologies that drive tangible value for our clients," said Andrew Matuszak, Managing Director, KPMG Ventures. "This underscores the firm's commitment to innovation and focus on delivering next-generation solutions to meet the evolving needs of businesses across industries."
Wokelo has raised $4 million in its seed funding round, other investors include prominent AI-focused venture capital firms such as New York-based Geek Ventures and Rebellion Ventures. Existing investors also participated, including Array Ventures and Untapped Capital.
About Wokelo
Wokelo is an AI-powered research platform that enhances the efficiency and speed of data analysis and intelligence gathering, crucial for activities like due diligence, sector research, and portfolio monitoring. Leveraging its proprietary large language model (LLM) based-technology, Wokelo automates and streamlines the collection, curation, synthesis, and triangulation of data, delivering client-ready outputs. Wokelo works with leading private equity funds, investment banks, consulting firms, and corporates to make data-driven decisions. Learn more at www.wokelo.ai.
About KPMG LLP
KPMG LLP is the U.S. firm of the KPMG global organization of independent professional services firms providing audit, tax and advisory services. The KPMG global organization operates in 143 countries and territories and has more than 273,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
KPMG is widely recognized for being a great place to work and build a career. Our people share a sense of purpose in the work we do, and a strong commitment to community service, inclusion and diversity and eradicating childhood illiteracy. Learn more at www.kpmg.com/us.
Contact:
Ed Jones
Media Relations Manager
Deal Advisory & Strategy
KPMG LLP
edwardjones@kpmg.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225233
