Parsers, Inc. became general partner and data provider in new project of iTech Capital partners
Company Parsers, Inc. became general partner and data provider of new project AIRR, founded by partners of the international investment fund iTech Capital.
The deal was prepared for several months, during which the issues were addressed not only on the possibilities of joint work in the venture capital market, but also multi-level assessment of all directions of profit increase and companies scaling in general.
Parsers, Inc. developed a new technology for collecting unstructured data in Web. The basic algorithm of data markup is based on AI, for training which uses a unique data set that collects more than 15 thousand users weekly.
Gleb Davidyuk, Managing Partner at iTech Capital together with Natallia Chykina, СFO and Partner of the fund, have created the software for investors based on а deep understanding of the needs of professional fund managers. PE/VC funds need “PE-Ops” or “VC-Ops”, a set of technologies that will simplify their daily work and provide the infrastructure for their key business processes.
The deal allowed us to successfully complement not only the technical capabilities of both teams, but also to strengthen the long-term expertise in the field of pipeline generation for direct investments by iTech Capital partners and data collection, processing, and structuring by Parsers, Inc.
The main result of joint work was the development of product AIRR Leads. AIR Leads has already been tested by several dozens of companies and venture funds, which gave positive feedback on the abilities of the product. The participants have expertise in different markets – CIS, Western and Eastern Europe, USA, which made it possible to approach the problem comprehensively and clearly define the market needs.
Parsers VC as well as large data providers Crunchbase, Pitchbook, dealroom.co provide access to the largest number of companies in the world. Over 8.5 million companies at various stages and 550 K investors, including venture funds, accelerators, hedge funds and other investment companies.
The product announcement will be released soon, as soon as the latest feedback from early customers is received.
Eugene Hurynovich, CEO of Parsers
“Conversations were quite easy, despite the fact that there were a lot of issues to be solved on integration of products and the market. I really like that our colleagues rely more on specific figures and indicators than on their own assumptions. There was a lot of work, we increased the size of the database of startups and venture companies by 10 times in a month, and the number of collected characteristics by 2 times. We have been looking for a long time for a partner who will not only receive data about companies from us, but also provide their expertise and experience in the venture market.”
Natallia Chykina, co-founder of AIRR and partner at iTech Capital:
“We are impressed by the approach of Parsers, that follow the data to the place where it will be updated most accurately: to the websites of the funds. We think that the combination of such data with the structured search-to-deal process provided by AIRR Leads will allow us to present a unique product to the venture market to find the best deals for investment.”
