Enter Daloopa—a brainchild born from the convergence of Li’s financial acumen and the technical prowess of Jeremy Huang, a seasoned software engineer from Airbnb and Meta, and Daniel Chen, a former Microsoft luminary.
Driven by his firsthand experience as a buy-side analyst grappling with the time-consuming nature of data sourcing and input, Li recognized the need for a transformative solution.
Daloopa represents a paradigm shift, leveraging AI to revolutionize the extraction and organization of financial data from myriad sources, including reports and presentations. Its recent $18 million Series B funding round, spearheaded by Touring Capital and joined by heavyweights such as Morgan Stanley and Nexus Venture Partners, underscores the industry’s recognition of its potential.
What is Daloopa?
Daloopa is a simple business. It offers the cleanest and deepest database of historical, fundamental financials for public companies. They take all the data from filings—including investor presentations, footnotes, KPIs, and operating data—and, with the help of AI, integrate them into a database
Targeting a diverse clientele spanning hedge funds, private equity firms, and investment banks, Daloopa empowers analysts with an arsenal of AI-driven tools designed to streamline investment workflows and due diligence processes. By automating labor-intensive tasks, the platform liberates analysts to focus on value-added activities such as in-depth analysis and client engagement.
While skepticism lingers regarding AI’s infallibility—given its propensity for hallucination—Li remains steadfast in his commitment to continuous improvement. Daloopa’s algorithms evolve iteratively, honed through exposure to expansive datasets sourced from public outlets like SEC filings and investor presentations.
Customers can access this data in two convenient ways:
Use cases for Daloopa
Its tools help analysts’ eliminate backlog, manage updates for multiple companies during those critical first hours after earnings releases, and aid in quickly ramping up and initiating coverage. You no longer have to be in a position where updating your model is a solo effort.
Acknowledging the competitive landscape and the imperative for innovation, Li emphasizes Daloopa’s proactive stance in harnessing AI for financial institutions. With a robust team of 300 professionals and a strategic focus on product enhancement and market expansion, Daloopa is poised to solidify its position as a trailblazer in the AI-driven fundamental data realm.
With AI technology continuously improving its processes, they are able to increase the speed of updates and accelerate the time to insights.