Comparables.ai raises USD $6 million in seed funding

Comparables.ai has raised USD $6 million in seed funding in a round led by Pragmatech and Araya Ventures.

Other investors included Purple Ventures, Gorilla Capital, hi5 Ventures, Somersault Ventures and others. The Helsinki-based company will use the funding to support expansion into multiple markets and further develop its artificial intelligence system.

Comparables.ai sells an M&A intelligence platform used by corporate development teams, private equity firms, M&A advisers and investment banks. It says the platform is now used by more than 50,000 professionals across more than 30 countries.

Enterprise customers are also expanding their use across regions, including one Big Four advisory firm that has extended its deployment to more than 10 countries.

The business targets a longstanding issue in mid-market dealmaking: fragmented information across private and public markets. Its platform combines private company financials, group structures, valuation data, M&A transactions and contact information, using AI to help users identify companies and markets more quickly.

According to the company, its dataset covers more than 370 million active companies worldwide. Users can search for targets, buyers or add-on acquisitions across several markets without relying on separate registries, databases and spreadsheets.

Founding team

Comparables.ai was founded by Niko Nalli, Markus Vesala, Martin Kangasniemi and Muhammad Ammad-ud-din. The first three have backgrounds in M&A advisory and financial markets, while Ammad-ud-din leads the technical side of the business.

Ammad-ud-din holds a PhD from Aalto University's Department of Computer Science and carried out postdoctoral research at the University of Helsinki. His research focused on machine-learning methods for combining multiple data sources into recommender systems.

Kangasniemi outlined the company's view of the market problem and how it positions its product for deal teams.

"Mid-market M&A has always been a visibility problem," said Martin Kangasniemi, Co-founder, Comparables.ai. "If you cannot see the whole field, you cannot run the best process. We built Comparables.ai to give any deal team the asymmetric advantage of a global bank."

He also described how customers are changing the way they handle early-stage market mapping and opportunity screening.

"We are seeing a fundamental shift," said Kangasniemi. "Deal teams are taking more of the early market discovery into their own hands, reducing the time and cost of identifying opportunities before engaging external advisors. With our data and technology, teams that have the capital but not the bandwidth can now run a more structured and global search from day one."

Investor backing

Investors pointed to customer traction and the company's position in a market that has traditionally relied on more manual search tools.

"Araya are excited to back this incredible team of talented operators who are supercharging dealmaking and M&A activity with full transparency, data and true market visibility," said Rupa Popat, Founder and Managing Partner, Araya Ventures.

Pragmatech Venture Capital cited the customer base and the product's practical use as key factors in its decision to invest.

"What gave us conviction was the combination of a strong customer base, including Big Fours, consistent evidence that the product delivers real value in customers' day-to-day work, and a team with deep M&A expertise. Comparables.ai's AI-native approach is disrupting a market still dominated by legacy, filter-based tools, giving it a clear competitive advantage. We believe the company can become a category leader in M&A intelligence," said Artem Yaremchuk, General Partner, Pragmatech Venture Capital.