The future of company knowledge
By Rob Cossins on the 17th January 2023News
Why we’re building the future of company knowledge.
It’s 2023, and company insight shouldn’t still rely on copying numbers and text from one document to another. Yet, that remains one of the business world’s largest unsolved problems.
Imagine, with one click, you have everything you need to make a fast decision. Data has been powering economies for years, and we’re now living in an age where this collection process can finally be automated. Better yet, reliable insight can be generated, at scale. We have a way to go, but this is the journey Scribe is on.
Why now? Current solutions rely on manual intervention, and it’s a product of a different time. The tech available to us now, particularly in Computer Vision, NLP and NLG, means that far more insight can be unlocked. Much faster, too.
Scribe unlocks value by structuring highly unstructured data, at scale. This is through automated financial spreading, auto-creation of cap tables and more, using proprietary machine learning models. This is something we accelerated in 2022, now delivering highly accurate financial information for over 2.5m UK companies and around 150k angel investors by ticket size and company valuations. This is most of the UK economy, and growing.
What does that value look like? In 2022, we worked with more than 60 organisations across finance, helping to:
- Lend more by automating private company monitoring, unlocking >10k hours
- Accelerating investments in Private Equity by uncovering fast-growing targets
- Helping companies to raise capital much faster from Angels (>25% response rate)
Increasingly clients are building their own internal platforms, which is why all data is provided API-first, with our user-friendly platform sitting on top. We're grateful for the product feedback loop created by our dialogue with stakeholders.
Where next? We have a few things we’re working on, which will go live very soon:
💷 Overhaul of our investor data, allowing for export, download and filtering
📊 Company monitoring, tracking and portfolio construction
🌍 New geographies: Northern Europe and USA are loading
Want to join our journey? Apply to work with us, or reach out for a demo.