Deckmatch funding news – Oslo-based Deckmatch Raises €2.9 Million in Seed Funding

The company is expanding internationally with a new office in Palo Alto, California, and launching its new product, AlphaLens. AlphaLens is an AI-powered search engine in beta that improves competitive market analysis by focusing on products, rather than just companies.

Investor of the Round

The funding round was co-led by Alliance VC and Luminar Ventures, with additional support from First Degree Capital and Skyfall Ventures. All investors had used Deckmatch’s platform before deciding to invest.

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Deckmatch’s growth is largely due to its popular “similar companies” feature which led the team to shift focus from company data to product-focused analysis. This resulted in AlphaLens which uses AI to analyze products by examining key elements like features and target audience. This helps users gain valuable insights into the competitive landscape.

Arne Tonning, Partner at Alliance VC, said, “AlphaLens” uses product-level AI search capabilities fused with conventional firmographic data, delivering a fresh perspective on competitive intelligence. We took a bet on two great founders with an idea in the pre-seed round – a bet that has panned out exactly as we hoped. Leo and Walid have proven the ability to execute and iterate with speed and intuition with few resources to build a product that we already love as a customer and see more to come. We are happy to step up to increase our position in this seed round and look forward to the continued journey with the team.”

Louise Hagen, Partner at Luminar Ventures, added: “As early customers, we have had a front-row seat to Leo and Walid’s exceptional execution and product prowess. We invest in founders who deliver extraordinary products, and as Deckmatch became the core of our internal tool stack within the first few months as users, it became clear that we had to back them as investors — not just because we believe in the product’s ability to massively accelerate the VC decision-making process, but also because we know the founders have the vision and tenacity to target adjacent markets in the future.”

Deckmatch now works with nearly 30 clients across three continents and has reached six-figure annual recurring revenue (ARR), growing at 40% month over month. The full release of AlphaLens in late October is expected to provide even more value by giving clients deeper insights into market trends beyond traditional data sources.

About Deckmatch

Founded in 2023 by Leo Gasteen (CEO) and Dr. Walid Mustapha (CTO), Deckmatch offers a set of APIs that help private market investors automate their workflows, such as turning pitch decks into organized, enriched data.

Using AI and advanced analytics, Deckmatch streamlines the investment process. The platform integrates deal flow with external data, helping investors make smarter decisions by matching startups with the right investors and providing actionable insights through custom reports.