RavenPack, a big data analytics provider for hedge funds, raised $5m in funding.
Draper Esprit (AIM:GROW, ESM: GRW) made the investment.
The company intends to use the funds to to double the size of its team, further develop its flagship big data analytics platform, and reach new verticals within financial markets.
Led by Armando Gonzalez, CEO, RavenPack is a big data analytics platform for financial services firms to improve judgements on where to place their money. Its newly launched platform enables users to monitor market-moving events, and surface insights by combining a wide variety of data sets, including stock prices, geopolitical events, newsflow, social media activity, payments data, weather, apps, and data from the internet of things.
The new platform allows both systematic and discretionary or fundamental users to:
– Access curated content from a wide variety of sources;
– Create and download custom datasets;
– Analyze proprietary text documents, emails, IMs, PDFs, or any textual content; and
– Visualize data and share insights across their organization.
The company, which employs over 50 developers, data scientists, and business professionals in offices in Marbella, Spain, London and New York, has more than 100 hedge fund, bank, and asset manager customers worldwide.