Crunched

Based in Old Saybrook, Connecticut, Crunched develops an Excel-native artificial intelligence analyst designed for power users in consulting, investment banking, and private equity. The software automates complex financial tasks directly within spreadsheets, including end-to-end workbook error checking, building financial models from scratch, and extracting data from PDF documents and external web research. Operating with a dedicated team of five employees and generating under $5 million in annual revenue, the company specifically targets the top two percent of highest-value spreadsheet users globally. Backed by the prominent startup accelerator Y Combinator, the platform is currently live with financial firms across six European countries and is actively planning its expansion into the United States market. The enterprise was founded in 2025 by former McKinsey private equity professional Philip Borge alongside Lars Gjardar Musæus, Michael Sakowski, and Markus Skagemo.

High-Level Overview

Crunched is the first AI-powered Excel analyst designed specifically by and for Excel power users, targeting professionals in management consulting, investment banking, private equity, and corporate finance. It integrates directly within Excel to automate and accelerate complex financial and strategic modeling tasks, such as error-checking, data gathering from web and PDFs, and building bespoke analyses. By doubling Excel modeling speed and improving accuracy, Crunched serves consultants, analysts, and finance teams who require auditability, transparency, and productivity in their workflows[1][2][4].

The product addresses the pain points of manual formula errors, slow model building, and the need for high-quality, repeatable financial models. It empowers users to focus on reviewing and interpreting results rather than coding formulas, thus enhancing decision-making efficiency. Crunched has gained traction with consulting, investment banking, and private equity firms across Europe and the US, reflecting strong growth momentum fueled by its unique Excel-native AI approach and backing from Y Combinator’s Fall 2025 batch[1][3].

Origin Story

Founded in 2025, Crunched was created by a team with deep Excel expertise and AI enterprise experience. The founders, including Michael and Philip, accumulated over 10,000 hours of Excel modeling experience at McKinsey, often working late into the night, which informed their understanding of the challenges faced by Excel power users. Lars and Markus bring experience in building scalable AI enterprise solutions with strong security, essential for handling sensitive financial data. The idea emerged from the need to augment—not replace—Excel by providing specialized AI tools that integrate seamlessly into existing workflows to boost productivity and accuracy[1].

Early traction came from live deployments with consulting and finance firms, where Crunched demonstrated the ability to double modeling speed and reduce errors, validating the product-market fit and setting the stage for further growth[1][3].

Core Differentiators

• Excel-Native AI Agent: Unlike standalone tools, Crunched operates fully inside Excel, preserving user workflows and data integrity.
• Specialized for Power Users: Built by Excel experts for consultants, IB, PE, and finance professionals who demand precision and auditability.
• Automated Error Checking: Detects logical, formula, and conceptual mistakes automatically, reducing costly errors.
• Data Gathering & Integration: Extracts data from PDFs and web sources directly into Excel models.
• Custom Analysis Builder: Automates complex analyses like DCFs, cohort analyses, and scenario modeling, turning hour-long tasks into minutes.
• Transparency & Control: Shows planned changes before applying them, allowing users to review and undo edits.
• Productivity Boost: Enables a 2x increase in modeling speed by shifting focus from manual coding to review and insight generation[1][2][4].

Role in the Broader Tech Landscape

Crunched rides the wave of AI augmentation in enterprise productivity tools, particularly in finance and consulting sectors where Excel remains the dominant platform. The timing is critical as AI adoption accelerates and firms seek to reduce human error and increase efficiency in complex financial modeling. Market forces favor solutions that integrate with existing tools rather than disrupt workflows, making Crunched’s Excel-native approach especially compelling.

By enhancing Excel with AI, Crunched influences the broader ecosystem by setting a precedent for domain-specific AI assistants that empower professionals rather than replace them. This approach fosters adoption and trust, potentially catalyzing further innovation in AI-driven productivity within legacy software environments[1][2].

Quick Take & Future Outlook

Looking ahead, Crunched is poised to expand its capabilities and user base, leveraging its Y Combinator backing and early success to scale across more finance and consulting firms globally. Trends such as increasing reliance on AI for decision support, demand for auditability in financial models, and the persistence of Excel as a core business tool will shape its trajectory.

Crunched’s influence may evolve from a niche Excel add-in to a standard AI assistant embedded in financial workflows, driving a paradigm shift in how analysts and consultants work. Its focus on transparency, security, and user control will be key to maintaining trust as AI becomes more integral to high-stakes financial decision-making[1][3][4].

In sum, Crunched exemplifies the future of AI augmentation in professional software—enhancing human expertise with intelligent automation while respecting established workflows and user needs.