Alt-X
Alt-X is an AI underwriting agent for Excel built for real-estate and private-market deals. It turns raw deal materials, such as offering memorandums and datarooms, into clean, auditable underwriting models that analysts can immediately review and edit.
Best for: Real-estate acquisitions teams, family offices, and private funds that underwrite deals in Excel and want to cut modeling time while keeping every number auditable.
Last reviewed 6/2/26
- Integrations
- Microsoft Excel (plugin/add-in)
- Property types
- Commercial real estate; also private equity and other private-market assets
- Geography served
- Global
How Alt-X uses AI[3][2][1]
Alt-X is an AI agent that lives in Excel. Drop in an offering memorandum and it parses the document, extracts the key terms, and builds a full underwriting model: sources and uses, debt sized to LTV and DSCR constraints, ten-year cash flows, exit cap sensitivity, and a GP/LP waterfall. Every number is cited back to the exact page and line, and every change needs the analyst's approval before it is applied.
- • Parses 200-page offering memorandums and deal documents to extract metrics like NOI, cap rate, IRR, and leverage
- • Auto-builds institutional-grade underwriting models directly in Excel from the extracted data
- • Cites every figure back to the source page and line, and requires user approval before applying changes
- • Also queries full PE, growth, M&A, and real estate datarooms to return cited, IC-ready answers
AI type: Document-parsing LLM agent with Excel automation; extracts unstructured deal data and generates auditable, source-cited financial models
Legacy platform API: unknown MCP: unknown
Key numbers[2][5]
- • Y Combinator Winter 2026 company
- • active status
- • States deals processed across hundreds of millions in AUM during early pilots with family offices and private funds
Credibility[2]
- Founders
- Co-founded by Ryan Samadi (CEO, Stanford CS/AI, former Citadel commodities trader) and Michael Wachsman (CTO, Cornell CS, ML researcher).
- Customers
- Piloting with family offices and private funds; states it is processing deals across hundreds of millions in AUM.
- Investors
- Backed by Y Combinator (Winter 2026 batch).
Founded
2025
Headquarters
Los Angeles, CA, USA
Stage
Y Combinator Winter 2026 (seed/early-stage)
Employees
1-10
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