Cognaize

About Cognaize

Cognaize offers an intelligent document processing (IDP) platform that utilizes a hybrid intelligence approach, combining artificial intelligence with human expertise to automate the processing of unstructured data for the financial services industry. Founded in 2020 by Vahe Andonians, who serves as CTO and CPO, and CEO Al Eisaian, the company is headquartered in New York. Andonians has a background in founding a fintech firm focused on risk management that was later acquired by Moody's, while Eisaian is a repeat founder whose prior company was acquired by VMware.

The company's core product is the Enterprise Knowledge Platform, which is designed to help financial institutions like banks, insurers, asset managers, and data providers extract actionable insights from complex financial documents. The platform uses a combination of deep-learning AI, neuro-symbolic systems, and financial models trained on over 1.3 million documents, including loan applications, SEC filings, ESG reports, and credit agreements. A key feature is its innovative knowledge graph, which constructs an interconnected network of information across various documents to provide deeper understanding and more precise query results. This technology enables use cases such as credit and lending analysis, ESG and compliance disclosure, and ratings and research, reportedly reducing manual processing time by up to 75% and achieving accuracy rates as high as 99.9%.

Cognaize operates on a business model that provides its AI solutions to large enterprises, including major banks and two of the three largest credit rating agencies. The platform can be deployed on-premise or in a private cloud environment, ensuring clients maintain control over their proprietary data. The company has seen significant growth, reporting a 4x increase in annual recurring revenue in 2022. Cognaize has raised a total of $20 million in funding over two rounds. This includes a $2 million seed round in 2021 and an $18 million Series A round in 2023, led by Argonautic Ventures with participation from Metaplanet, Granatus Ventures, and BAJ Accelerator.