New York-based software startup Alkymi recently raised $5 million in a seed round to help financial institutions and other enterprise clients automate back-office workflow. The company, part of INV Fintech's current startup class, calls its automation solution Data Inbox, and uses machine learning that can be applied to various parts of everyday operations, including finance, human resources, sales and IT. For example, by leveraging Alkymi's Data Inbox, a bank could automatically extract and structure data from emails and documents sent by a business client applying for a loan, thus avoiding the need to process that documentation manually. The AI solution works with the enterprise's email platform, file-organization application and document-sharing application used on the job. Alkymi's standard API then connects the data in the applications and emails to the Data Inbox. According to Harald Collet, Cofounder and CEO of Alkymi, businesses struggle to manage data and documents, which is often a repetitive task that gets in the way of higher value tasks.