London-based firm Tracelight, which builds an AI-powered Excel plug-in that automates complex financial modelling for analysts, has secured $3.6 million in a seed funding round led by Chalfen Ventures, as Vestbee was told.
- Founded in 2024 by Peter Fuller, Aleksander Misztal, and Janek Zimoch, Tracelight develops an AI-powered Excel add-in that automates and accelerates complex financial modelling tasks.
- The product is an Excel add-in that allows language models to interpret spreadsheet content, including formulas, values, formatting, and cell relationships, in a structured way.
- This enables users to carry out modelling tasks like formula generation, error checking, and analysis using natural language, without leaving Excel. The software encodes spreadsheets into a format that LLMs can process more effectively than conventional interfaces.
Details of the deal
- The fresh capital was led by Chalfen Ventures, with participation from Acequia Capital, Inovo, Entrepreneur First, and angel investors Charlie Songhurst and Suhit Gupta.
“The most magical AI tools work at the highest level of abstraction, making them radically easy to adopt, while understanding and executing complex work under the hood. Tracelight does that. It has taken the world’s most widely used modelling platform and embedded AI where it can have immediate impact," claims Mike Chalfen, Solo VC at Chalfen Ventures.
- The firm plans to use the fresh $3.6 million seed funding to develop its product, expand its team, and grow its go-to-market efforts to serve finance and strategy professionals globally.
“The financial models used by investors, consultants, bankers and corporate finance professionals are large, logically complex, and formatted according to strict rules. Our technology unlocks the full reasoning power of frontier LLMs on these files; for the first time, Excel financial modellers will be able to tap into the power of frontier AI models directly in their existing workflow," co-founder and CTO of Tracelight, Aleksander Misztal, commented in a press release.
