Sequoia Capital is betting on the future of Wall Street by leading an investment in Rogo Technologies, a start-up focused on developing AI tools to enhance banker efficiency. The New York-based company, now valued at $750 million, aims to create an AI equivalent of a banking analyst. This investment significantly boosts Rogo’s valuation, following a $50 million Series B round earlier this year led by Thrive Capital. The start-up plans to raise between $50 million and $100 million in the new deal, which remains unfinalized. Founded in 2022 by former investment bankers and a software engineer, Rogo recently appointed former Lazard managing director Rahul Rekhi as president. Rogo’s software seeks to streamline the demanding work of young bankers, who often endure 80-hour weeks, by using AI to create slide decks and assist in drafting IPO documents and financial models.
Is Sequoia Capital backing an AI tool to replace junior bankers?
