Today @Lightfield announced their $47M Series A, led by a16z.
Over 5,000 companies have started running on Lightfield since we launched in November, and a lot of what's in the product today exists because of conversations with people like you. We'll be using the investment to expand our engineering team so we can ship even faster for our customers.
Its been almost 12+ hours since we launched (https://www.producthunt.com/prod...) and we wish to see 100s of upvotes and engagement. So, let me explain Due Diligence via in a funny way, in movie Thor, when Odin rescues Thor on Jotunheim, Thor thinks he came to fight with him, so he says, 'Father, we will finish them together', Odin says, 'Silence'.. Odin did a quick due diligence and silenced his son because his battle experience in millions told him, this is a grave situation..
Similarly, due diligence is a process where investors look for everything that can go wrong in the exceptional business plan or pitch deck for the best problem to be solved, submitted to them by an ideal founder. They look for the risks and the founder readiness to tackle these risk just through a pitch deck. Most times even the first sight of unaddressed concerns causes startup rejection, just like Odin did above, because seeing 100s of submissions per week, any reason to reject a startup makes their life easier.
We are launching askOdin tomorrow, and there couldn't be a better day to share our story with PH Community. We, the askOdin team, envisioned Clarity engine on 4 US prov. patents naming Rune, Raven, Norn and Judge about 2 years ago, all of them to bring determinism to the diligence process that, if performed by this system, it highlights investment readiness of a pitch plan with a traceable data graph, auditable brief and defensible score.
While we designed Clarity we were confronted with a problem the LLMs weren't addressing, how to make all output traceable, defensible and auditable, this is of an utmost importance in the financial world. Example, if tracing ones path towards a decision isn't auditable, that decision is more of a gut feel. Such decisions carry maximum risk in financial compliance.
It is this risk load that's generally transferred to founders, by means of investment rejection, without exactly explaining what went wrong or how to improve their business plan or is it even viable. This formed the basis of askOdin. We formed Crucible and Clarity out of Clarity engine to attend to two distinct user-base, Founders and Investors.
Crucible solves the above problem for founders by giving them critical feedback as an successful investor, the feedback is divided into multiple segments including business physics, solution logic and market evidence, while flagging all brittle assumption that make or break the business. Best part is, it needs no login, no data retention, and has zero price tag for usage. Clarity on the other hand is the enterprise layer, highly customized for investors. It helps them find invest-able firms on the data rooms they share for diligence.
