Quandl, a Toronto, Canada-based platform for financial and economic databases, secured $5.4m in Series A financing.
August Capital made the investment. As part of the financing, Dave Marquardt and Tripp Jones of August Capital will be joining Quandl’s board of directors.
The company intends to use the funds to expand into commercial data.
Launched in January 2013 by Tammer Kamel, CEO, and Abraham Thomas, chief data officer, Quandl currently hosts over 10 million financial and economic datasets from over 500 publishers, including capital markets, energy, shipping, healthcare, education, demography, macro-economic and society data. Databases on Quandl cover financial market data, economic and demographic data, energy and shipping data, and more. Data is available via API, via libraries for Excel, R, Python, Matlab and other tools, and via instant download in any format.
Each month, the site serves over 5 million datasets (100 billion data points) to over 50,000 users, who span the financial spectrum, from large hedge funds managing billions of dollars, to individual traders and retail investors, to academics, business analysts and consultants.