F2 has launched Institutional Knowledge, a new AI-powered product that converts a firm’s historical deal activity into a growing proprietary intelligence asset. The platform enables organizations to turn years of deal history into a searchable repository that supports investment evaluation, benchmarking, and underwriting decisions. With each transaction completed on the F2 platform, the intelligence layer continues to expand and improve.
Since launching in September with a $10M oversubscribed seed round backed by investors including NFX, Left Lane Capital, and Y Combinator, F2 has seen 7x month-over-month growth in platform usage and 60x ARR growth. The platform has been used by thousands of professionals across more than 100 enterprise firms. Audit Mode builds on that momentum, extending F2’s capabilities to meet the rigor institutional investment workflows require.
As AI adoption accelerates across private markets, existing AI tools are still mostly black boxes, producing answers without transparency into how numbers are calculated. Under investment committee scrutiny, that opacity leads to rework, extended review cycles, and unnecessary risk.
“In private markets, moving fast doesn’t matter if you can’t defend the numbers behind your decision,” said Don Muir, CEO of F2. “Speed isn’t about generating answers faster, it’s about trusting them. When the numbers are fully traceable, teams can invest with confidence. Audit Mode makes that possible.”
Audit-Grade AI, Built for Real Financial Workflows
At the core of Audit Mode is “Databook”, a live, Excel-native system built directly from source documents in the data room. Rather than generating static outputs, F2 creates a formula-rich, source-linked workbook that makes every step of the analysis visible.
Audit Mode is the inspection layer that brings Databook to life. From any report or analysis, users can click into a number to view the underlying formulas, precedents, dependencies, and source documents in context, without leaving their workflow.
Key capabilities include:
- Traceability from any value to its original source file, sheet, and cell
- Live inspection of formulas, precedents, and dependents
- Linked citations and contextual source previews
- Exportable Excel outputs with complete traceability intact
By embedding transparency directly into the workflow, Audit Mode eliminates manual verification and enables AI-generated analysis to withstand scrutiny in high-stakes decision-making environments.
Audit Mode reflects F2’s core thesis: AI should augment financial judgment, not replace or obscure it. “When transparency is built into the foundation, speed becomes a byproduct of trust,” added Don.
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