Metaplanet invested in New York-based document automation solution Cognaize

Jaan Tallinn’s fund Metaplanet invested in New York-based document automation solution Cognaize. Metaplanet and Cayman Islands-based venture and hedge fund Argonautic Ventures led a $18M round. The names of other investors are not disclosed. 

Cognaize was founded in 2020 by Vahe Andonians. The startup developed a platform to process unstructured data for financial AI applications. It uses deep learning trained specifically on financial models and over 1,3M of documents, such as loan applications, SEC filings, ESG documents (environmental, social, and governance factors), presentations, trustee reports, and others. Later, financial analysts help correct what is being read by AI and make conclusions and decisions based on the outcomes. 

Cognaize has offices in New York, Frankfurt am Main (Germany), and Yerevan (Armenia). Its customers include two credit ratings agencies, insurance companies, and financial services businesses.

The startup will use the investment to expand its business, including hiring new employees, research, product, and business development.

Metaplanet Holdings is an early-stage investment firm of Skype’s founder Jaan Tallinn. It has 163 companies in its venture investment portfolio.