Thrive Capital Leads New Deal in Wall Street AI Startup Rogo

Is Wall Street ready to work with artificial intelligence? Two of OpenAI’s biggest investors think so.

Thrive Capital is set to lead at least a $40 million financing into Rogo AI, an artificial intelligence startup selling AI software for investment bankers and Wall Street analysts and investors, at a valuation of up to $350 million, according to a person with direct knowledge. Existing Rogo investor Khosla Ventures, which like Thrive is also a big OpenAI investor, is set to participate in the new round, this person said.

Styling itself as Wall Street’s “first AI analyst,” Rogo aims to shorten the time that investment and corporate bankers spend on the grunt work of research and preparing client materials. 

The three-year-old startup says it uses large language models from OpenAI and Anthropic. It can also reference data from sources such as S&P Capital IQ and Crunchbase and can connect to customers’ internal data.