Arteria AI, a document and contract management spin out from Deloitte, has received investments from the strategic investing arm of Citi's Global Spread Products division, and Canada's BDC Capital.
Arteria includes a series of product modules that can be used to help draft, negotiate and analyse documentation and contracts. Unlike standard digital document platforms, Arteria was built to meet the specific requirements of the institutional banking and trading sector.
The package is tailored to work across multiple business product lines, from primary and secondary capital markets, to lending, prime brokerage, structured finance, transaction banking and private equity.
Katya Chupryna, head of Citi's Spread Products Investment Technologies, says: “Our investment in Arteria AI aligns with our strategy, as the company’s differentiated technology is both widely applicable to multiple Citi businesses including new issuance for structured credit and accretive to our broader ecosystem of portfolio companies.
"The company has already accumulated significant traction with established financial institutions, demonstrating the immense utility of their technology. A strategic investment into Arteria also represents a great opportunity to support a female-founded and led enterprise FinTech company.”
The unspecified investment follows Arteria AI’s Series A round in April 2021, where it raised $11m just five months after the company’s inception as an independent business.