HEXANIKA

regtechdata managementgovernanceregulatory reportingbig data analytics

FOUNDING YEAR:
LOCATION: United States
Last Update: 19/01/2021

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About

HEXANIKA has developed an innovative end to end software for financial institution to address data sourcing and reporting challenges focused on regulatory compliance. It enables financial institutions to harness new technologies, to reduce regulatory cost by process automation and consolidation. HEXANIKAs Software Platform streamlines the process of data ingestion, analytics and reporting. The platform leverages a unique machine learning algorithm, simplifies data governance process and generates timely reports to be submitted to regulators in the correct format.

MEDICI Analysis

Hexanika’s advanced data management and reporting solutions help financial services firms adapt to changing environments. The big data software provides a competitive advantage for companies by guiding them to make crucial, data-driven decisions to improve business process and performance.

Focus

PRODUCTS & SERVICES

SmartJoin: An intelligent and self-learning software platform to address regulatory data sourcing. SmartReg: Regulatory reporting. Services: DRaaS (Data Readiness-as-a-Service) and RaaS (Reporting-as-a-Service) to scale Hexanika's products through GTM partnerships. Hexanika’s Software Platform streamlines the process of data ingestion, analytics, and reporting. The platform leverages machine learning algorithm, simplifies data governance process, and generates timely reports to be submitted to regulators in the correct format.

REVENUE MODEL

Our revenue model will be a combination of a License fee for the platform & a recurring usage fee per report.

MAIN CLIENTS

Financial institutions

EXISTING PARTNERSHIPS

Microsoft

IBM

Accenture

FIS

Synpulse.

COMMENT

It uses semantic, heuristic, and machine learning logic for integrating, consolidating, aggregating as well as managing structured or unstructured data from disparate sources.

Traction

VALUATION / MARKET CAP:

$13 M in 2017

COMPANY TYPE:

For Profit

REVENUE

$0 - $99k

ACTIVE USERS:

4

ACTIVE USERS COMMENT:

Has completed one pilot project with an undisclosed large bank and are closing on two other pilot projects.

People

FOUNDERS

Makarand Gadre

BOARD MEMBERS AND ADVISORS

Manish Soman

Prakash Jalihal

Shailesh Karia

TK Chopra

Sankar Aiyar

TT Bhat

Robert Untracht

Robert Untracht.

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Fintech71

SixThirty

SixThirty Fintech Fall Accelerator

The FIS FinTech Accelerator in Partnership with The Venture Center

UMB Bank

Venture Center

Village Capital.

VC FinTech Fund 1, LLC

KEY EMPLOYEES:

Makarand Gadre (CTO)

COMMENT:

Yogesh Pandit holds more than 20 years of professional experience prior to Hexanika,had worked with Deutsche Bank, Morgan Stanley, Goldman Sachs, Ernst & Young, Visa, Citibank, etc.

Momentum

FUNDED

NO

NUMBER OF FUNDING ROUNDS

2

TOTAL FUNDING

$100 K

DATE OF LAST FUNDING

Sep 2017

IPO STATUS

Private

ESTIMETED REVENUE RANGE

Less than $1M

SEED & PRIOR FUNDING

$100 K

SEED CLOSED ON

Sep 2017

LISTED

NO

COMMENT

As of July 2016, they are looking to raise $2.5M to scale the product and implement GTM strategies.

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

1,345

AVERAGE VISITS (6 MONTHS)

1,643.2

MONTHLY VISITS GROWTH

-43.55%

VISIT DURATION

83

VISIT DURATION GROWTH

-11.09%

PAGE VIEWS VISIT

1.33

PAGE VIEWS VISIT GROWTH

-16.04%

BOUNCE RATE

63.15%

BOUNCE RATE GROWTH

-11.26%

GLOBAL TRAFFIC RANK

5,849,288

MONTHLY RANK CHANGE

19,615

MONTHLY RANK GROWTH

0.34%

Innovation Programs

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HEXANIKA

About

HEXANIKA has developed an innovative end-to-end software that automates regulatory compliance using AI. It enables financial institutions to address data management and reporting challenges. Some proven benefits include 100% data lineage and 40% cost savings.

Focus

PRODUCTS & SERVICES

The product benefits the banks overall but will significantly impact the following departments: Regulatory Compliance and Reporting: Easy creation and application of rules to generate reports in regulatory mandated formats with the ability of reusability and end to end traceability of data. Automation of the process using Artificial Intelligence also significantly helps bring down time and resources required for this function. Data Management: Improved data lineage and data sourcing, analytics and ability to generate reports with complete traceability. Finance, Revenue and Operations: Significant time and resource savings that result in bringing down the overall cost of reporting with automation to simplify the process. Technology: Software is easy to deploy and agnostic of platform or architecture enabling easy usability and flexibility. Also makes financial institutions ready to BCBS 239 compliance requirements.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

PRODUCT ATTRIBUTES

SaaS

On-premises

Traction

ANNUAL REVENUE:

$0 - $99k

TRANSACTIONS VALUE:

0.00

ACTIVE USERS/ACCOUNTS:

4 Million

ACTIVE USERS COMMENT:

Cost and Resources savings by up to 40% • Reduced Time to Market due to 75% reduction in processing time Accurate and consistent reporting due to reduced manual interventions.

LIVE USERS/TRANSACTIONS:

Yes, in trial/pilot

How will you grow the number of users/accounts/transactions?

Through our partners we have access to more than 70% of the market. We have a strong ecosystem of partners which we will leverage to grow our business

CHANNEL STATUS

INITIAL CLIENTS

NUMBER OF CLIENTS OR PAYING CUSTOMERS

0

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed
Dec 2017
USD400 K
at a USD13.25 Mvaluation
Comment on Seed
HEXANIKA is a participant in the SixThirty Fintech Fall Accelerator prog, 2016. Sixthirty Fintech Fund Fintech71 Venture Center Village Capital UMB Bank