HEXANIKA
regtech . data management . governance . regulatory reporting . big data analytics
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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.
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:
SixThirty Fintech Fall Accelerator
The FIS FinTech Accelerator in Partnership with The Venture Center
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.
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