Research note · Diligence operating systemFiled · 2026-05-27 · No. 015

AcceleratediligencewithAI evidence you can trust

15Rock turns your sources and methodology into cited decision artifacts — IC memos, board packs, risk ratings — with every claim traceable back to its source.

See IC memo workflow

§ 01 · Private source intelligence

Ask diligence questions across every trusted source.

Filings
Earnings calls
Market data
Internal notes

Agent workspace

Acme Industrial IC memo

126 claims checked

Build the bull / bear case and cite every material claim.

IC memoRed flagsPeer tableSource appendix
41
sources mapped
2
contradictions
100%
cited output
Evidence attached

“Pricing actions offset input-cost pressure, but inventory normalization remains a second-half dependency.”

Used by teams at

Built from hands-on use across investment firms, advisors, banks, and global enterprise teams.

BlackRockGIPBCIRBCScotiabankBMOManulifeAvnetBugatti
Source · to · decision

The evidence path

One workflow. Six stages. Every claim cited. A traceable path from a trusted source to a defensible decision artifact.

01

Source map

Ingest trusted sources

02

Claim engine

Map claims to evidence

03

Workflow engine

Apply your methodology

04

Draft artifact

Generate cited output

05

Reviewer loop

Human validates

06

Decision pack

Export memo · brief · board pack

What do you need to produce?

Pick the deliverable. 15Rock builds the evidence path.

Instead of starting with a blank chat box, teams start with the work product they owe a partner, lender, board, or client — then get a cited draft they can inspect.

Prompt

IC memo workflow

126 claims checked
Build an IC memo for Acme Industrial with bull/bear cases, market risk, and cited source appendix.

Source map

1
10-K
2
Earnings call
3
Investor deck
4
Prior memo

Output package

Partner-ready memo draft with executive summary, thesis, red flags, peer table, and claim-level citations.

Investment thesis
Bull / bear case
Source-linked appendix
Trust architecture

Built for evidence, review, and accountability.

15Rock does not make the decision. It structures the evidence, assumptions, trade-offs, and draft artifacts so your team can defend how an answer was produced — to IC, board, client, or compliance.

Source ingestion & permissions

Filings, transcripts, PDFs, data-room docs, and internal memos enter a private workspace with granular access control — your data, your perimeter.

Source-linked claims

Every material assertion is mapped to the page, table, or transcript line it came from. Unsupported claims surface before review.

Human review loop

Analysts approve, flag, or rewrite at the claim level. Decisions are signed off by people — every action recorded against the evidence.

Tamper-evident audit trail

Every ingestion, citation, reviewer action, version, and export — captured and exportable alongside the artifact for IC, board, or compliance review.

Enterprise data handling

Encrypted in transit and at rest, SSO/SAML, MFA, and role-based access. Your data never trains shared models.

Exportable decision artifacts

IC memos, risk registers, board packs, and source appendices export as PDF, DOCX, or structured JSON — reproducible and defensible.

Not a black box

“Every material claim should be traceable to a source, an assumption, or a human judgment.”

Institutional clients don’t adopt black boxes. 15Rock shows what was found, where it came from, and how it was reasoned — so partners can inspect the work, not just read the answer.

What happens inside 15Rock

From trusted sources to a cited decision artifact

Six stages. Every claim mapped to evidence. Every reviewer action audit-trailed.

01Source map

Ingest sources

Filings, broker research, internal models, transcripts, regulatory data — every input is registered, hashed, and verified before it can be cited.

Source map
Source map · Project Aurora
  • BloombergNEF — Steel 2030
  • IEA WEO 2025
  • Form 10-K (12 filings)
  • Internal model — capex base case
  • Earnings transcripts (8)

5 of 5 sources verified · ready for claim mapping

02Claim engine

Map claims to evidence

Every assertion in a draft is linked back to the source span it came from. Unsupported claims are flagged before they reach a reviewer.

Claim engine
Claim engine

Steel-sector capex is set to rise 18% YoY through 2027, driven by green-premium product lines.

Conf · high
  • BNEF Steel 2030[p.42]Greenfield DRI-EAF capex commitments up 18.4% YoY, concentrated in EU and India.
  • ArcelorMittal 10-K[FY24]Capex guidance raised to $4.5–5.0B, weighted to decarb.
  • IEA WEO 2025[ch.6]Green-premium product demand grows at 11% CAGR through 2030.
03Workflow engine

Apply your methodology

Your IC framework, scoring rubric, and red-flag library run as a workflow — not a prompt. Same questions, same depth, every diligence.

Workflow engine
Workflow output · IC scoring
ClaimSourceValueConf.
Market growthBNEF + IEA+11% CAGRConf · high
Capex trajectory10-K filings+18% YoYConf · high
Margin durabilityBroker consensusMixedConf · medium
Regulatory tail riskEU CBAMElevatedConf · medium
04Draft artifact

Generate the draft

Memo, brief, sector note, or board pack — drafted with every claim citation-linked. No fabrication, no untraceable paragraphs.

Draft artifact
Decision pack

IC memo — Aurora Steel Acquisition

Exportable · Cited · Audit-trailed

  • Executive summarycomplete
  • Thesis & key claims (12)complete
  • Evidence appendix (47 citations)complete
  • Risk registerin-review
  • Reviewer sign-offpending
05Reviewer loop

Human validates

Your analysts review claim-by-claim. Approve, flag, or rewrite — every action is recorded against the underlying evidence span.

Reviewer loop
Reviewer loop
  • J. Singh

    Senior Analyst

    Capex thesis well-supported — green-premium evidence is the strongest.

    Approved
  • M. Patel

    Sector Lead

    Margin durability claim needs a second broker source.

    Flagged
  • R. Chen

    Investment Committee

    Pending
06Decision pack

Export the artifact

Decision-ready output: memo, brief, or board pack — every paragraph traceable to its source. The audit trail ships with the file.

Decision pack
Audit trail
  1. Claim engine linked 47 citations to 12 claims

    08:14 · automated

  2. J. Singh approved sections 1–3

    10:42 · reviewer

  3. M. Patel flagged margin durability for re-evidence

    11:08 · reviewer

  4. Workflow engine regenerated section 4 with new source

    11:31 · automated

  5. R. Chen exported decision pack (PDF + DOCX)

    14:20 · reviewer

Platform architecture

A diligence operating system, not a prettier chatbot.

15Rock separates source handling, claim extraction, validation, output generation, and monitoring so investment teams can defend how an answer was produced.

01

Ingest

Filings, transcripts, PDFs, spreadsheets, data room docs, expert notes, and CRM context enter a private workspace.

02

Source map

Entities, dates, pages, tables, speakers, and source quality are organized before any narrative is drafted.

03

Claim engine

Material assertions, KPIs, peer comparisons, risks, and contradictions are extracted and grouped by decision question.

04

Validation

Citations, math, peer relevance, source coverage, and conflicts are checked before content reaches the memo.

05

Output

IC memo, red-flag register, benchmark table, source appendix, and editable client-ready brief are exported together.

06

Monitor

The source map keeps watching for new signals, portfolio changes, competitor moves, and follow-up questions.

Why chat fails diligence

Serious investment work needs more than a chat box.

Chat is useful for brainstorming. Diligence requires traceability, repeatable methodology, source coverage, validation, and a finished decision artifact.

Forgets the source map

A chat thread cannot maintain a durable library of pages, tables, speakers, and prior internal notes.

Answers without audit trail

Investment teams need to inspect the evidence behind material claims, not trust a fluent summary.

Cannot compare consistently

Forty documents, ten peers, and five memo sections require repeatable structure and normalization.

Misses firm methodology

Generic assistants do not know your IC format, red-flag taxonomy, or partner review standard.

Drops contradictions

Diligence depends on surfacing conflicting evidence instead of smoothing it into one clean answer.

Stops before the deliverable

The job is not an answer bubble. It is an editable memo, register, benchmark, appendix, and validation log.

Who this is for

We’re selective about who we work with.

15Rock is a diligence operating system, not a general-purpose assistant. It is built for teams that take a position in front of a partner, IC, board, or client — and need to defend how every claim was produced.

Not the right fit

15Rock is not for

  • Teams looking for a generic chatbot
  • Teams that want unsourced AI recommendations
  • Teams that only need a dashboard
  • Teams unwilling to define their methodology or review outputs
Built for

15Rock is for

  • Teams with recurring research and diligence workflows
  • Teams that need cited, reviewable outputs
  • Teams under time pressure but unwilling to sacrifice rigor
  • Teams that want to encode their own investment logic
Team backgrounds
TDManulifeBridgewaterPIMCOMcKinseyOracle
Sound familiar?

The research bottleneck is costing you the room

40 hrs
per target

You’re rebuilding the same research structure for every deal — burning associate hours before analysis even starts.

60%
time on data gathering

Your data lives in filings, financial databases, and scattered PDFs — critical context gets missed under deadline pressure.

48 hrs
to follow-up promised

You promised a follow-up in 48 hours. 15Rock helps your team return with a cited sector view, benchmarked levers, and a client-ready narrative.

You didn't build your practice to spend the first two days finding the data.

Who we serve

Built for teams that run on intelligence

You run diligence on 40-hour timelines. Your associates spend the first two days reconstructing research that should already exist — financials, management backgrounds, peer benchmarks, red flags.

  • Initial screening in <30 min
  • IC memo with citations
  • Red flags surfaced early
  • Peer benchmarks from verified data
Finding · 03Filed · 2026-05-27
40 → 3 hrs
Average time to first draft
From company name to structured, cited analysis
15Rock ResearchSource · platform telemetry
Diligence source universe

Bring the sources your team already trusts. Get outputs your team can defend.

15Rock organizes public, private, and firm-specific context into one source layer, then carries citations through every memo section, benchmark, and risk callout.

Public market evidence

SEC filings
Earnings transcripts
Investor decks
News and press releases
Company websites
Market datasets

Private diligence material

Data room PDFs
CIMs and lender decks
Management call notes
Expert interviews
Customer references
Internal prior memos

Firm operating context

CRM notes
Partner hypotheses
Portfolio history
Deal checklists
Investment templates
Approval criteria
Output layer

Decision artifacts with citations attached

IC memo
Red-flag register
Peer benchmark
Market map
Source appendix
Validation log

Every output ships with a source appendix and validation log, so reviewers can trace each material claim back to the evidence that supports it.

How it runs

How the workflow runs

Six terms you'll see across the product. Each maps to a concrete artifact, not a marketing concept.

Source map

Every trusted input — filings, broker research, internal models, regulatory data — registered and verified before it can be cited.

Claim engine

Maps each assertion in a draft to the evidence span it came from. Unsupported claims surface before review.

Workflow engine

Your methodology — IC framework, scoring rubric, red-flag library — running as a repeatable workflow, not a prompt.

Reviewer loop

Analyst review at the claim level. Approve, flag, or rewrite — every action recorded against the evidence.

Decision pack

The output: memo, brief, or board pack — every paragraph traceable to its source.

Audit trail

Every source ingestion, claim mapping, reviewer action, and export — captured and exportable with the artifact.

Multi-layer QA

Every claim is checked before it reaches the memo.

15Rock verifies citations, reconciles numbers, flags contradictions, and exports the audit trail alongside the draft — so partners can inspect the work, not just read the answer.

20+
validation checks before export

Source coverage

Confirms the source library includes the filings, transcripts, data tables, PDFs, and notes needed to support the answer.

Citation verification

Links each material claim back to the cited page, transcript segment, table, or internal note.

Number reconciliation

Checks margin, growth, KPI, and benchmark calculations against the underlying tables before export.

Peer relevance

Flags weak comparables and explains why each peer belongs in the benchmark set.

Contradiction detection

Surfaces claims that conflict across filings, management commentary, news, or prior internal notes.

Audit trail export

Packages the memo, source appendix, verification log, and editable narrative for IC or client review.

Results from pilot workflows

Anonymized feedback from pilot teams across PE, banking, credit, and advisory

Private Equity
80% screening time cut

Cut initial screening time by 80% while improving analysis depth. Our associates now evaluate 3x more targets per quarter.

Managing Director

Growth Equity Fund — Pilot participant, 2026

Investment Banking
40 → 8 hrs per target

First-round materials that used to take 40 hours now take 8. Associates spend time on client-facing work instead of data gathering.

Director, M&A Advisory

Mid-Market Investment Bank — Pilot participant, 2026

Credit
4-month early warning

Caught a workforce reduction at a portfolio company 4 months before the covenant breach. Early warning system paid for itself with one save.

Senior Credit Analyst

CLO Manager — Pilot participant, 2026

Advisory & Consulting
Overnight complexity

Walked into a sector review with ten industry-specific levers benchmarked and cited. The client asked how we got there overnight. We said it was our process.

Partner, Strategy Practice

Global Advisory Firm — Pilot participant, 2026

Trust

Why the output is trusted

Every artifact carries its own audit trail — citations, reviewer actions, and source provenance — exported with the decision pack.

Private workspace; your data never trains models

Multi-Layer QA — 20+ validation checks catch errors before you see them

AES-256 encryption; GDPR/CCPA-ready

No annual contract required — start with a 2-week pilot

Office of the Investment Committee · 15Rock ResearchFiled · 2026-05-27Rev 0115Rock Research

Bring us one target. Get back a cited memo draft.

Two-week proof of concept using your companies, sectors, and methodology. We’ll produce an IC-ready or client-ready diligence pack before you commit.

Built for confidential diligence workflows · Every material claim source-linked

See IC memo workflow
For the Investment Committee
15Rock · Decision Artifact

Start small

Most teams begin with one workflow, one source set, and one output.

Start a focused prototype