Bay area AI startup receives $1.3M in pre-seed round

Iteright, a Tampa Bay area-based startup, recently received $1.3 million in a pre-seed round led by New World Angels’ Innovation Fund. 

A pre-seed round helps startup companies get initial funding to bring their products and services to life. 

Over 30 investors took part in the round. 

The company, founded by Alex Brodsky, has developed an innovative artificial intelligence platform that helps guide business executives through investment decisions.  

A “growth management system,” Itright provides real-time insights while allowing leaders to track their investments. 

Company executives can outline their business goals in the platform and then connect it to data sources to measure if the goals are being reached. 

Brodsky wanted to create a singular place where leaders can see if their objectives are being met. Iteright’s AI software analyzes all of the data to tell executives whether their strategies are working or not. 

“All [the AI does is] take real data and turn it into plain English, [because] if you saw a chart with all these numbers, it’d hurt your head. We turn it into language that the business needs to make decisions,” he said. 

“We use AI to make sense of a crazy amount of data.” 

Brodsky hopes Iteright can replace expensive consultants and help executives make informed, calculated choices in a timely manner. 

After working at St. Petersburg-based Orchid Black Growth Consultants for more than two years as an operating partner, Brodsky wanted to find a way to help companies grow more effectively. 

He recognized that businesses were spending too much time and resources on projects or strategies that, in the end, lost them significant capital. 

“No one wants to read a 15 page report of my analysis. They want to know is it going to make me money or lose me money? What’s the return? 

“That was a really hard analysis to do. I had to create these crazy algorithms … AI is the only way that makes this possible now. This couldn’t have existed five years ago.” 

The ultimate goal of the software is to ensure all company funds are used to drive measurable growth. 

Determining decision outcomes is key, Brodsky said. Not all projects are going to be successful and companies can no longer pursue every idea.

Brodsky believes that Iteright will highlight what’s best for the business, ego aside. 

“Too often it’s political,” he explained. “People feel unimportant if their ideas don’t get worked on for a year or two. It’s not about that.

“It’s not about you personally getting your idea worked on. It’s about our company growing. It’s about us being successful.” 

Since launching in January 2024, 17 corporate customers have begun to implement Iteright. 

One customer, a major healthcare company, used the AI tool to analyze 400 project ideas and determine which projects would be most effective. Iteright’s algorithm was able to pinpoint the six most growth-centric projects based on its goals. 

Brodsky and his team have designed a 30-day pilot program for new clients to introduce them to the software and educate them on how it can help grow their business. 

They hope to have 100 clients by 2027. 

Iteright is a member of Embarc Collective, a platform and incubator designed to help startup founders in Florida. 

To learn more, visit iteright.com