Axle raises $9 million for AI that runs how banks connect investors with public companies

Axle, a New York startup that builds software for banks' corporate access teams, has raised $9 million in a round led by Eniac Ventures and Bonfire Ventures, with Teamworthy Ventures also investing, the company said in a press release.

Corporate access is the service in which investment banks set up meetings between institutional investors and the management of listed companies, analysts and industry experts, through conferences, roadshows and one-on-one meetings. Axle says it accounts for over 40% of broker votes at top hedge funds, yet many desks still run it on spreadsheets and older systems.

Axle's AI agents build meeting schedules in minutes around investor priorities and availability, pick investors to invite using holdings data and past interactions, and connect to banks' CRM systems. The company says more than a dozen sell-side firms use it, including three of North America's largest banks, and that some customers have replaced two or three older systems with it. "The technology behind these connections has barely changed in decades," said co-founder and CEO Sam Shapiro.