Deckmatch raises $3.1M seed to revolutionise private market workflows with its AI-powered investment platform “AlphaLens”, addressing investor intel gaps by spotlighting product-based market competition.
AI-powered investment platform AlphaLens targets investor intel gaps
Deckmatch, an AI-powered investment platform revolutionising private market workflows, has announced a successful $3.1M seed funding round co-led by Alliance VC and Luminar Ventures, with participation from First Degree Capital and Skyfall Ventures. This capital infusion will support the opening of a new office in Palo Alto, California, and the ongoing beta of its product-focused AI search engine, AlphaLens, which Deckmatch claims can transform investor deal flows by highlighting product-based market competition.
Venture capital professionals constantly juggle pitches, potential investments, and competition metrics, often relying on firm-based data, which Deckmatch aims to disrupt. Recognising that products [rather than companies] compete in the marketplace, Deckmatch has created AlphaLens to evaluate product-level competition. Designed for those who need a comprehensive lens on market players, AlphaLens provides targeted product insights by analysing components like features, target audience, and positioning, rather than just firm metrics.
A smarter AI-powered investment lens
Based in Oslo and Palo Alto, Deckmatch automates pitch deck analysis to ensure investors can make informed, time-sensitive decisions. With its recent $3.1M funding, Deckmatch aims to deepen its product offering and make further inroads in the U.S.
Co-founded by CEO Leo Gasteen and CTO Dr Walid Mustapha in summer 2023, Deckmatch distinguishes itself with its REST APIs, which allow pitch decks to be automatically processed, enriched, and catalogued into tools like Affinity, Attio, and Slack. This level of integration means that “a pitch deck received in their inbox overnight is already catalogued in their CRM with a memo written up before their morning coffee.” Gasteen describes it as “rewiring how private markets see innovation.”
As a result of this product-first approach, Deckmatch’s “similar companies” feature gained strong traction with customers, sparking the development of AlphaLens. This tool, currently in closed beta, is scheduled for a full release in late October. With AlphaLens, Deckmatch aims to bring a fresh perspective to competitive intelligence, helping investors assess how products stack up across industries and inform decisions around scaling, sourcing, partnering, and market positioning.
Seed round success follows rapid growth
Following a $1.1M pre-seed round in 2023, Deckmatch has attracted close to thirty paying customers spanning three continents, with six-figure ARR and 40% month-over-month growth. In the words of Louise Hagen, Partner at Luminar Ventures, “As early customers, we have had a front-row seat to Leo and Walid’s exceptional execution and product prowess. We invest in founders who deliver extraordinary products, and as Deckmatch became the core of our internal tool stack within the first few months as users, it became clear that we had to back them as investors, not just because we believe in the product’s ability to massively accelerate the VC decision making process, but also because we know the founders have the vision and tenacity to target adjacent markets in the future.”
Arne Tonning, Partner at Alliance VC, echoed this sentiment, saying, “We took a bet on two great founders with an idea in the pre-seed round – a bet that has panned out exactly as we hoped. Leo and Walid have proven the ability to execute and iterate with speed and intuition with few resources to build a product that we already love as a customer and see more to come. We are happy to step up to increase our position in this seed round and look forward to the continued journey with the team.”
US expansion marks new chapter for Deckmatch
The seed funding will fuel Deckmatch’s U.S. expansion with a permanent office in Palo Alto, placing it at the heart of the American venture capital landscape. Gasteen, who will lead the U.S. operations, sees this as more than just an entry into a new market, “We’re rewiring how private markets see innovation by shifting focus from firmographic data to the products themselves. This sharper lens gives all market participants a clearer view of what truly drives value. As we begin our new chapter as a US-based company, it’s worth noting that we’re not just entering a new market – we’re creating one.” he explains. Deckmatch’s move into the U.S. demonstrates its intent to redefine the venture capital landscape by focusing on products as the drivers of market competition.
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