Operand, a New York company that sells AI tools for private equity due diligence, raised $31 million across seed and Series A rounds, chief executive Ram Gorthi told Axios Pro in an exclusive interview¹.

FinSMEs, citing the same combined raise, said the company was valued at $220 million and that Khosla Ventures led the financing, with Felicis, SV Angel, Soma Capital and Y Combinator participating².

Axios described Operand as focused on non-traditional data sources so firms can seek an information edge, and on using AI to process a higher volume of data than traditional diligence workflows typically handle¹.

FinSMEs said Operand’s platform is designed to help buyout firms rebuild a picture of a business from public records and internet traces, including customer behavior, pricing gaps and operational metrics, without relying on a seller’s cooperation².

The company is led by Gorthi, Akhil Iyengar and Arjun Sahney, according to FinSMEs, which also said Keith Rabois joined Operand’s board and that proceeds are intended to expand operations and scale the platform².

FinSMEs named Clearlake Capital among private equity firms using the technology for diligence and post-deal work². Axios did not name customers or investors in the portion of its report that was readable without a Pro subscription¹.

Neither account broke out how much of the $31 million was seed versus Series A, or when each tranche closed^1,2. Independent operating metrics such as revenue, headcount and number of paying firms were not published in those reports^1,2.