Seattle Startup Alkemi Raises $1.65M for AI Data Platform

Seattle-based startup Alkemi has officially launched its AI-powered data platform, aiming to make it easier for employees to access and understand company information using simple, everyday language. The company also announced $1.65 million in pre-seed funding as it looks to expand its platform and compete in the rapidly growing enterprise AI market.

The startup was founded by brothers Connor Folley and Maxwell Folley, who are building technology that allows workers to query business data without requiring technical expertise. Instead of relying on SQL or specialized analytics tools, employees can simply ask questions in plain English and receive answers backed by company data.

Connor Folley is no stranger to building successful startups. He previously co-founded Downstream, an Amazon advertising analytics company that was acquired by Jungle Scout in 2021. After the acquisition, he spent two years at Jungle Scout, where he observed a common challenge facing many businesses.

According to Folley, valuable company knowledge often remained locked away in complex databases, making it difficult for frontline employees to access the information they needed to make informed decisions.

That experience inspired the creation of Alkemi.

The company’s flagship product, called DataLab, connects directly to leading enterprise data platforms, including Snowflake, Databricks, and Looker. It can also integrate with AI agents and business applications through MCP-compatible endpoints, allowing organizations to incorporate DataLab into existing workflows.

Alkemi says its goal is to deliver an experience similar to popular AI assistants such as ChatGPT while eliminating many of the privacy concerns associated with uploading sensitive business information to public AI models.

Unlike consumer AI tools, DataLab does not upload customer information or use proprietary company data to train AI models. The platform also provides transparent responses by including traceable reasoning and source references, allowing users to verify how answers were generated.

As more businesses adopt artificial intelligence, Alkemi is entering an increasingly competitive market filled with startups and enterprise software providers developing AI-powered analytics assistants. Many of these platforms aim to simplify access to business intelligence while maintaining strict security and compliance standards.

To support its growth, Alkemi has secured $1.65 million in pre-seed funding. The investment round was led by Tuesday Capital, with participation from DNX, MGV, and several angel investors. Notably, many of these investors also backed Connor Folley’s previous startup, Downstream.

The company currently has a team of seven employees and plans to continue expanding its AI platform for enterprise customers.

Before launching Downstream in 2018, Connor Folley worked as a marketing manager at Amazon, gaining firsthand experience with data-driven decision-making inside one of the world’s largest technology companies.

His brother and co-founder, Maxwell Folley, also brings startup experience to Alkemi. Prior to joining the new venture, he founded Caravel, a conversational intelligence platform that was later acquired by Commsor.

With experienced founders, early investor support, and growing demand for secure AI-powered business tools, Alkemi is positioning itself to help organizations unlock the full value of their internal data without sacrificing privacy or requiring advanced technical knowledge.

As enterprises increasingly look for AI solutions that balance ease of use with strong data security, Alkemi’s DataLab platform aims to give employees faster, safer, and more transparent access to the information they need to make better business decisions.

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