Deckmatch, an Oslo-based startup, has raised $3.1 million in a successful Seed funding round to continue developing its AI-driven investment platform. The company, co-founded by Leo Gasteen (CEO) and Walid Mustapha, PhD (CTO) in the summer of 2023, aims to enhance how venture capitalists analyze and make decisions in the private market by using artificial intelligence. The latest funding round, co-led by Alliance VC and Luminar Ventures, with participation from First Degree Capital and Skyfall Ventures, will allow Deckmatch to expand its U.S. operations and further refine its flagship product, AlphaLens.

Transforming Venture Capital Workflows

Deckmatch offers a suite of advanced REST APIs that automate and streamline workflows for private market investors. The platform takes pitch decks and automatically converts them into structured, enriched data, seamlessly integrating this information into popular investor tools such as Affinity, Attio, and Slack. This integration is designed to enhance investor efficiency by enabling them to process incoming pitch decks quickly—often having them cataloged with a summary memo in their CRM before they even begin their workday.

Gasteen explains, "This approach modernizes the investment process and accelerates decision-making by automating the routine tasks that often consume investors' time." The company’s focus is on simplifying the deal flow, eliminating bottlenecks in the process, and reducing the amount of time spent on manual data entry and analysis.

The Launch of AlphaLens

With the success of its core platform, Deckmatch is now focusing on launching AlphaLens, a cutting-edge product-centric AI search engine. Currently in beta, AlphaLens takes a revolutionary approach to analyzing the competitive landscape by emphasizing product-level competition over traditional firmographic data. This unique focus allows investors to gain insights into how products—rather than just companies—compete in the marketplace. By analyzing aspects such as product features, target audience, and market positioning, AlphaLens provides a more comprehensive view of market competition, offering deeper insights into how products stack up against one another across industries.

"The idea behind AlphaLens is simple but powerful," Gasteen says. "We're shifting the focus from firm data to the products themselves. This sharper lens gives all market participants a clearer view of what truly drives value in the private market." Deckmatch’s approach is positioning it to be a game-changer for venture capitalists, helping them identify the most promising investments based on the actual products and their market relevance rather than simply company-related metrics.

Rapid Growth and U.S. Expansion

Deckmatch's rapid growth is a testament to the platform's effectiveness. After completing a $1.1 million pre-seed round in 2023, the company now boasts a growing customer base of nearly 30 paying clients spread across three continents. With six-figure annual recurring revenue (ARR) and impressive 40% month-over-month growth, the startup is already gaining traction in the venture capital community.

The company is now focused on expanding its presence in the United States, with the opening of a new office in Palo Alto, California. Gasteen, who will lead the U.S. operations, views this expansion as a significant step forward for Deckmatch. "We’re not just entering a new market—we’re creating one," he says. "The U.S. market is a hub for innovation, and we believe our product-first approach will provide a fresh perspective on competitive intelligence that will resonate with investors and industry leaders."

Investor Confidence in Deckmatch’s Vision

The investment community has shown strong confidence in Deckmatch’s potential, with investors praising the startup's founders and product offering. Louise Hagen, Partner at Luminar Ventures, highlighted the company's exceptional execution, noting, "As early customers, we had a front-row seat to Leo and Walid's incredible product development. We were so impressed by the product’s ability to accelerate the VC decision-making process that we were eager to back them as investors."

Arne Tonning, Partner at Alliance VC, echoed this sentiment, stating, "We took a bet on two great founders with an idea in the pre-seed round, and it has paid off. Leo and Walid have shown an ability to execute quickly and efficiently, building a product that we already rely on as customers."

Deckmatch's Vision for the Future

As the company continues to grow, Deckmatch is looking beyond the immediate goals of U.S. expansion and product development. The company is working to create a comprehensive index of products worldwide, something that has never been done before. This ambitious project, which will be powered by AlphaLens, will provide users with unprecedented access to competitive insights, helping them navigate the increasingly complex private market.

Gasteen sees this as the next step in Deckmatch's broader mission. "We’re rewiring how private markets see innovation," he says. "By providing investors with deeper, more actionable product insights, we’re helping them understand what drives value in the market. We believe this shift will redefine the venture capital landscape."

Deckmatch is on a trajectory to reshape how venture capital firms approach deal flow, market analysis, and competitive intelligence. With a focus on AI-driven tools that automate workflows and provide deeper insights into product-level competition, the company is poised for continued growth and success. Its $3.1 million Seed funding, expansion into the U.S., and the launch of AlphaLens mark a significant step in its mission to revolutionize the venture capital industry. As the company expands its reach and refines its technology, Deckmatch is set to become a key player in the global private market landscape.