BlueFlame AI, a generative AI (artificial intelligence) platform for alternative investment managers, has raised $5m (£4m), bringing its valuation up to $50m.
The Series A funding round was oversubscribed by 25 per cent and attracted investments from BlueFlame AI’s network of industry leaders and strategic partners, alongside significant participation from the management team. The platform, whose clients include private credit managers, plans to use the money to “continue its rapid pace of product enhancement”.
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“With this capital, we can remain focused on our core goals of product innovation and customer value as we continue to push the boundaries of how our clients can use AI to reduce time spent on low-value tasks and devote more time to delivering results for their limited partners,” said Raj Bakhru, chief executive of BlueFlame AI.
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The platform will continue to develop new AI use cases and technologies to enhance efficiency and streamline data sources for alternative investment managers. Since launch in October 2023, it now has more than 20 team members, supporting investment managers with hundreds of billions of assets under management.
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