Quandl, a Toronto, Canada-based platform for financial, economic and alternative data, completed a $12m Series B funding.
The round was led by Nexus Venture Partners with participation from August Capital. In conjunction with the funding, Naren Gupta, Founder of Nexus Venture Partners, joined Quandl’s Board of Directors.
The company, which has raised $20m to date, will use the funds to expand its coverage of “alternative” data.
Founded in 2012 by Tammer Kamel and Abraham Thomas, Quandl provides open, commercial and alternative data for investment professionals. Its platform – which features alpha-generating alternative datasets alongside core financial and economic data – is used by over 100,000 people, including analysts from hedge funds, asset managers and investment banks in the United States.