altermAInd Company Profile

Background

altermAInd is an innovative artificial intelligence (AI) and technology company dedicated to simplifying complexity and enabling businesses to unlock the full potential of AI and cloud technologies. The company's mission focuses on delivering AI solutions that adhere to the highest standards of governance and sustainability, particularly catering to industries with stringent regulatory requirements.

Key Strategic Focus

altermAInd specializes in providing AI-driven platforms and services designed to meet the compliance and operational needs of highly regulated sectors, such as finance and legal industries. The company's core objectives include:

AI Adoption and Governance: Through its platform, Gravity, altermAInd simplifies AI integration, development, monitoring, and reporting, ensuring data traceability and cost control.

Service Level Agreement (SLA) Compliance: The Nebula platform monitors SLAs for Microsoft online services, detecting disruptions and calculating impact and compliance automatically.

Market, User Experience (UX), and Brand Performance Optimization: Radar provides data-driven insights to optimize market strategies, UX, and brand performance.

AI Readiness and Training: Slash measures digital skills and designs training paths to accelerate AI readiness within organizations.

Financials and Funding

In December 2024, illimity Bank sold a 52% stake in altermAInd to Fibonacci Subco Srl, a vehicle of the Finwave-OCS Group controlled by Apax Partners, for €62.4 million. This transaction valued altermAInd at approximately €120 million and resulted in a net capital gain of about €52 million for illimity Bank.

Pipeline Development

altermAInd's product pipeline includes:

Gravity: An AI governance platform that centralizes generative AI integration, streamlines development, monitoring, and reporting, ensuring data traceability and cost control.

Nebula: A SaaS platform that monitors SLAs for Microsoft online services, detecting disruptions and calculating impact and compliance automatically.

Radar: A data-driven solution delivering actionable insights to optimize market, UX, and brand strategies.

Slash: A platform that measures digital skills and attitudes, identifies personalized archetypes, and designs training paths to accelerate AI readiness.

Technological Platform and Innovation

altermAInd distinguishes itself through its proprietary technologies and innovative methodologies:

Gravity: This platform offers a catalog of pre-validated AI models that companies can integrate into their IT infrastructures, ensuring control and customization while maintaining high security standards.

Nebula: Ensures full Azure SLA compliance by monitoring Microsoft online services, detecting disruptions, and providing real-time evidence and fine-tuning capabilities.

Radar: Combines advanced metrics, actionable insights, and transformative deep dives to empower brand, market, and user experience, driving measurable success and sustained growth.

Slash: Measures digital skills and attitudes, identifies personalized archetypes, and designs training paths to accelerate AI readiness.

Leadership Team

Filipe Teixeira, CEO & Founder: Filipe began his career managing IT projects for international banks, including Santander, Deutsche Bank, and UniCredit. At UniCredit, he led key initiatives such as the Digital Core Banking Transformation. In 2018, he joined illimity as Chief Information Officer, shaping a tech-driven banking model focused on innovation.

Andrea Pettinelli, Executive Chairman: Andrea brings extensive experience in the technology sector, having served as CEO of Finwave-OCS. His leadership is instrumental in guiding altermAInd's strategic direction and growth.

Leadership Changes

In December 2024, following the acquisition by Fibonacci Subco Srl, Andrea Pettinelli was appointed Executive Chairman, and Filipe Teixeira assumed the role of CEO.

Competitor Profile

Market Insights and Dynamics

The European AI market is experiencing rapid growth, driven by increasing adoption across various industries and supportive regulatory frameworks. altermAInd positions itself within this expanding market by offering compliant and innovative AI solutions tailored to regulated sectors.

Competitor Analysis

Key competitors include:

IBM WatsonX: Offers AI solutions with a focus on compliance and governance, similar to altermAInd's offerings.

iGenius: Provides AI-driven business intelligence solutions but focuses more on data analytics rather than compliance-centric AI integration.

Asc27: Specializes in AI solutions but does not emphasize compliance and governance to the same extent as altermAInd.

Strategic Collaborations and Partnerships

altermAInd's strategic partnership with Apax Partners through the acquisition by Fibonacci Subco Srl provides financial backing and industry expertise, strengthening its market position and innovation capacity.

Operational Insights

altermAInd's focus on compliance and governance in AI solutions provides a distinct competitive advantage, particularly in regulated industries. The company's independence from specific AI model providers allows flexibility and customization, catering to diverse client needs.

Strategic Opportunities and Future Directions

altermAInd aims to expand its client base across various European industries, including public administration, insurance, automotive, and pharmaceuticals. The company targets achieving €70 million in annual revenue by 2029, reflecting its growth ambitions and market potential.