ITM Financial, a Woburn, MA-based forex signal startup, raised $1m in venture capital and angel funding.
Backders were not disclosed.
The company intends to use the capital to expand their product lines into US based stocks as well as commodities.
Led by CEO Curt Dalton and CTO Ali Khan, ITM Financial is a subsidiary of the Internet Time Machine project, which uses a massive set of algorithms to scan the internet for new trends, ideas, or products that have a growing number of mentions or discussions, yet have very results in search engines. The idea behind the solution is that when applied to the field of forex based trading, the software can predict trade movements before they happen in the market.
The company’s US based stock market software is scheduled to be released in February 2013.