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AngelList

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AngelList is building the infrastructure that powers the startup economy, providing startups and investors with the connected tools they need to launch and scale a startup or fund—and invest in both.
This is the 22nd launch from AngelList. View more
Relay

Relay

AI-powered portfolio analyzer, driven by your inbox
Extract key details from investment documents and company updates with AngelList Relay. Transform unstructured data from your inbox into an organized dashboard by simply forwarding an email.
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Relay gallery image
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Launch tags:
Productivity•Fintech•Artificial Intelligence
Launch Team

What do you think? …

Tammy Nguyen
Maker
📌
👋 Hey everyone! We’re Tammy, James, Channing, Sung, and Thibaut from AngelList. We span across the Product, Design, and Eng team here and have been working really hard on building Relay to reinvent the way fund managers and investors work with data from their emails. Every day, fund managers, founders, investors, lawyers, accountants, and other stakeholders trade crucial information via email, and those emails become real-life investment deals. With the common phrase time kills all deals, this means staying on top of your inbox can be crucial to your investing success. Unfortunately, email services aren’t built for private markets. Key data, like legal documents and company updates, are only accessible to the account holder and are often quickly buried under new messages. Plus, it incredibly time consuming to read through all of the documents and ensuring you’re picking up key investment details (e.g. pay-to-play provisions, off-market terms, round size) that can impact your future returns. As a result, inboxes end up acting as a repository, and people spend hours searching for information in a reactive manner. That’s why today we’re launching AngelList Relay to optimize email management and portfolio tracking for all firms and their fund admins. Relay is an AI-powered portfolio analyzer that automatically extracts information as structured data from email correspondences, allowing firms to easily: • Organize and store over 16 types of legal documents • Organize and store all company updates with 9+ parsed/structured terms • Report on investment details based on 18+ terms parsed from investment documents like SPAs and SAFEs • Generate LP facing investor updates • Identify communication gaps in their portfolio (e.g., which companies are not sending important information). We’re beyond excited to bring this to market and can’t wait to hear what you all think!
Channing Ritter
Maker
📌
👋 Hi, I’m Channing — product designer on the Relay team. Working on Relay has been a fascinating challenge involving an ongoing process of trying to wrangle all the new, seemingly infinite possibilities unlocked by AI into incremental steps that can help us build towards our product vision. These conversations about near and far term thinking are where so much of the magic of Engineering/Product/Design collaboration happens on any product — but even more so for a product like Relay that’s being built on the edge of this emerging technology. We’re grateful to have been able to incorporate many new learnings along the way, including from folks in the venture community who have shared how much they need Relay to help make sense of all the data, trends, and insights that are already within reach — but almost entirely inaccessible to them today. We appreciate your support and can’t wait to share more about all the exciting features we’ve got coming up next!
Ryan Hoover
Enjoyed seeing this come together, @tammyn26! (context for everyone else: the team shared an early version with me a few months ago) Can you share more about what's on the roadmap?
Tammy Nguyen
Maker
Hi @rrhoover, First off - thank you again for your endless support throughout the development process, your input has greatly shaped the product that is Relay today. In terms of the roadmap, we’re very excited to share that we’ll be working on the following features in the upcoming weeks: 1. Programmatically generating updates for your investors (LPs): Relay currently gathers KPIs and qualitative insights from the company updates you receive as a fund manager. We want to take this data collection to the next step and turn it into actionable insights. Soon you'll be able to define the categories and information you’d like to include in investor updates you send to LPs in your fund. Relay will then automatically generate an investor update which you can edit and share with your entire investor network. 2. Enhancing legal document parsing capabilities: Relay currently parses and extracts structured data from SPAs and SAFEs. It also manages (automatically categorizes and stores) an additional 16 document types. We're working to add 4 new legal documents to our parsing repository and will soon be able to parse other equity financing round documents (in Aug) and pro forma documents next month (in Sept). 3. Robust reporting: Relay currently extracts 27+ key terms from your legal documents and 10+ key terms from your company updates. We will be releasing a ChatAI which users can use to ask questions and generate reports using natural language processing. As an example, you’ll be able to ask Relay “Which companies in my portfolio have experienced revenue growth greater than 15% in the last quarter?” 4. Relay for individual investors (LPs): Currently, Relay’s interface is focused on fund managers. Next, we will be building Relay for individual LPs to also process documents and fund investor updates they receive from their fund managers. That's our focus for the rest of Q3 but we're also open to additional feedback or feature requests if there are any that people would like to see on our roadmap!
Anirudh Ganti