01
Deal One-Pager
The executive summary, verdict and headline numbers, ready to forward.
The problem
Every capital decision still starts with a week of reading.
A Series A, a buyout, a private placement or a loan: someone still reads the deck and the data room, spreads the numbers, builds the model, stress tests it and writes the memo. That takes days per deal, so most deals get a skim, and the hard ones get skipped or rubber stamped.
StepTodayWith Underridge
ReadingAnalyst hours on every deck and data roomEvery page read, every headline figure tied to its source
ModelingA blank workbook and a weekendA live Excel model with sensitivity tables
WritingMemo drafted the night before committeeMemo, term sheet and IC pack from one run
DisciplineEasy yeses, hard deals deferredA verdict on every deal: proceed, conditions or pass
TimeDays per deal76 seconds median, data room to package
What is AI underwriting?
AI underwriting software reads a deal's documents, extracts the financials, runs the analysis an underwriter would (cash flow or unit economics, valuation, structure, returns and risk) and drafts the deliverables: an investment memo, a term sheet and a model. The best tools trace every number to its source and label anything they had to assume, so a person can check the work.
Underridge is AI underwriting software for anyone who underwrites: investors, lenders, acquirers and advisors. Venture rounds, buyouts, private placements and structured deals, real estate, private credit, royalties, long-lived assets, commodities and insurance-linked deals: 145 asset classes in all. It is decision support: a person still owns the decision.
How it works
Three steps. About a minute.
01
Drop the deal
A pitch deck, a zipped data room, a model or a forwarded email. No intake form, no template, no setup.
02
It reads and reasons
Underridge loads the playbook for that asset class, reads every page and tests the sponsor's claims. Each headline figure is tied to its page, its formula or a labeled assumption.
03
You get the verdict and the package
Proceed, proceed with conditions, or pass, with the reasons. Then seven files: one-pager, term sheet, investment memo, IC pack, timeline, sensitivities and model.
What you get
A verdict first. Seven files right behind it.
One run produces the whole package a committee expects, built from the same evidence so the memo, the terms and the model agree.
02
Term Sheet
LOI-style indicative terms sized to the underwriting, with the binding clauses.
03
Investment Memo
Thesis, cash flow or unit economics, valuation, structure, risks and conditions.
04
IC Decision Pack
The investment committee presentation: thesis, numbers, risks and conditions.
05
Deal Timeline
A 90-day path to close: gates, critical path and diligence costs.
06
Sensitivity Tables
Two-way tables across the variables that actually move the answer.
07
Model Workbook
A live Excel model with linked formulas. Change an input and IRR, MOIC and coverage recalculate.
Sample
See a real memo.
A sample real estate loan, exactly as Underridge writes it. Same engine for equity, venture and structured deals.
Every headline figure carries its source, for example "T12 p.3", or is labeled as derived or as an assumption. Anything missing from the data room is flagged, not invented.
Proof
Measured on real deals, not demos.
Underwritten
174
real deals taken from documents to a finished package.
76s
median from data room to the full package.
87%
of production runs labeled document-grounded.
Verdicts
56% Pass44% Proceed with conditions0 Rubber stamps
1,218
deliverables generated: memos, term sheets, IC packs and models.
145/7
asset classes, on 7 model archetypes, from venture rounds and buyouts to real estate, royalties and loan pools.
Production figures across 174 underwrites; verdict mix across all 178 runs. Underridge says no more often than yes.
Agent-native
Your agents can underwrite too.
The same engine as the app, exposed three ways. One credit per underwrite, results in about a minute.
- MCP · underwrite_deal
Point Claude or any MCP client at the Underridge server. Tools to underwrite, poll status and read the full package.
- REST · POST /v1/underwrites
Queue a deal with its documents, poll the id, then fetch the memo, terms and model inputs as JSON.
- Inbox sweep
Finds decks, data rooms and CIMs in your Gmail, adds them to the pipeline and saves tailored replies as drafts. It never sends mail.
// mcp.json: connect any MCP client
{
"mcpServers": {
"underridge": {
"url": "https://app.underridge.com/mcp",
"headers": { "Authorization": "Bearer ur_live_..." }
}
}
}
// then, from your agent
underwrite_deal({
deal_name: "Series A, $14.0M round",
files: [{ name: "Pitch_Deck.pdf", url: "https://..." }]
})
// queued, about a minute, then get_deal for the verdict and cited figures# queue an underwrite (one credit)
curl https://app.underridge.com/v1/underwrites \
-H "Authorization: Bearer $UNDERRIDGE_KEY" \
-H "Content-Type: application/json" \
-d '{
"deal_name": "Industrial services buyout",
"files": [{ "name": "CIM.pdf",
"url": "https://..." }]
}'
202 { "id": "...", "status": "queued" }
# poll, then read the package
GET /v1/underwrites/{id} # queued, running, done
GET /v1/deals/{id} # memo, terms, model, sources# connect Gmail once, then sweep the last 90 days
sweep newer_than:90d (decks, data rooms, CIMs, share links)
found deal emails with attachments or data room links
match each one to your Underridge pipeline
add new deals as pipeline entries
draft a tailored reply in Gmail, saved as a draft
# never sends mail · no credits spent
# batch underwrite the pipeline when you are readyPricing
Pay per underwrite. Start with 10 free.
Credits from $9.80 down to $5.95 per underwrite. Committed volume from $5.00. Every plan covers every asset class.
Your data room is encrypted in transit and at rest.
FreeStart here10 underwrites to start
$0
10 freeunderwrites
Starter5 credits · 1 seat
$49
$9.80per underwrite
Professional25 credits · 3 seats · branded artifacts
$179
$7.16per underwrite
Desk100 credits · 10 seats · priority queue
$595
$5.95per underwrite
EnterpriseCommitted volume · SSO, audit trail, SLA
Custom
from $5.00per underwrite
FAQ
Questions, answered.
What is AI underwriting?
AI underwriting software reads a deal's documents, extracts the financials, runs the analysis an underwriter would (cash flow or unit economics, valuation, structure, returns and risk) and drafts the deliverables, such as an investment memo, term sheet and model. Good tools cite the page behind every figure and label anything they had to assume, so a person can verify the work.
What does Underridge produce from one run?
A verdict of proceed, proceed with conditions, or pass, with the reasons, followed by seven files: a deal one-pager, term sheet, investment memo, IC decision pack, deal timeline, sensitivity tables and a live Excel model workbook.
How fast is it?
The verdict usually lands in about a minute. Across 174 real deals, the median time from data room to the full seven-file package is 76 seconds.
Where do the numbers come from?
From your documents. Every headline figure is cited to its source page, for example T12 p.3, or labeled as derived or as an assumption. Anything missing is flagged, not invented.
Will it just tell me what I want to hear?
No. Across 178 production runs, 56% of verdicts were pass and 44% were proceed with conditions. There have been zero unconditional approvals.
Which deals and asset classes does it cover?
Any capital decision: venture and growth rounds, buyouts from the lower middle market up, private placements and structured deals, real estate, private credit and loans, royalties, long-lived assets, commodities and insurance-linked deals. That is 145 asset classes, built on 7 model archetypes.
Can my AI agents use Underridge?
Yes. Underridge exposes an MCP server with an underwrite_deal tool, a REST API (POST /v1/underwrites) and an inbox sweep that turns deal email into a pipeline. Each underwrite uses one credit and runs on the same engine as the app.
How much does it cost?
New accounts get 10 free underwrites. After that, credit packs run from $9.80 down to $5.95 per underwrite: Starter is $49 for 5, Professional is $179 for 25 and Desk is $595 for 100. Enterprise committed volume starts at $5.00 per underwrite.
Does Underridge replace an underwriter?
No. It does the reading, spreading, modeling and first drafts, which is where most of the hours go. A person still owns the decision, the negotiation and accountability for the call. Underridge is decision-support software.
Get started
The next deal is already in your inbox.
Drop it in. The verdict lands in about a minute, with the full package right behind it.
Underridge is a decision-support tool. Its output is not an investment or credit decision, an appraisal, or investment, legal, or tax advice, and it does not replace independent professional judgment or required diligence.