Israeli fintech startup AlgoValue has announced the launch of its cloud-based software platform that aims at simplifying the way valuations are completed.
AlgoValue's secure software automatically handles the challenges of valuating complex capital structures of private companies and reduces the time needed for valuations by up to 80 percent, according to the company.
The software-as-a-service (SaaS) platform addresses the complications of valuation processes with a simple six-step flow: project description, volatility, capitalization table, shareholders' rights, options plans and convertible debt, and valuation summary.
Excel-based valuations processes and tools prove to be time-consuming and full of human error, according to AlgoValue founder and CEO Raphael Meyara, a former PricewaterhouseCoopers valuation expert.
"When we worked for PwC, we were struck by the bitter disappointment experienced by both investors and entrepreneurs when they witnessed the painful gap between the sums they thought they would receive from a particular venture, and what they actually obtained," says Meyara.
"As a result, we developed a one-stop-shop cloud-based platform, which is going to change the way valuations are performed and set a new standard for valuations and related added-value services. Our secure software helps ensure that lawyers, venture capitalists, CFOs, accountants, angel investors, and other professionals engaged in valuations will easily understand each other. We expect 2015 to be the breakthrough year in which many more US and Canadian firms will join the bandwagon and adopt AlgoValue's platform."
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