Rowspace Launches with $50M to Monetize Institutional Knowledge
Fintech startup Rowspace has launched with a $50 million seed round led by Sequoia. The company aims to help financial firms turn internal knowledge—such as proprietary processes, workflows, and risk insights—into a scalable competitive advantage by breaking down internal data silos.
- Co-founder and CEO Michael Manapat previously led machine learning at Stripe and served as CTO of Notion, while co-founder and COO Yibo Ling is a two-time former CFO, including at Bird. - The $50 million in funding includes a Series A co-led by Sequoia and Emergence Capital, and a seed round led by Sequoia, with participation from Stripe, Conviction, and Basis Set. - Rowspace's platform connects a firm's scattered data—including memos, financial models, and legacy accounting systems—and integrates with existing tools like Excel and Microsoft Teams. - For security, the platform deploys directly into a customer's own environment, ensuring their proprietary data remains under their control. - Early use cases include a large credit originator using the platform for real-time portfolio health monitoring and a private equity firm analyzing 50 years of its transaction history to inform new deals. - The company is already working with financial institutions that manage assets ranging from hundreds of billions to nearly a trillion dollars. - Co-lead investor Emergence Capital focuses on early-stage enterprise software companies, with a history of backing companies like Zoom, Veeva Systems, and Box. - Rowspace is headquartered in San Francisco and is using the new funding to hire for its engineering and research teams in both San Francisco and New York.
