MarketReader, a New York-based market analytics company that identifies and explains price action in real time, raised $3.1M in Seed funding.
The backers were not disclosed.
The company intends to use the funds to accelerate the development of its user platform to deliver real-time, data-driven explanations of price movement across asset classes to financial advisors and retail investors.
Founded by Jens Nordvig, Web Begole and Evan Schnidman, MarketReader is a market analytics company that empowers all investors to understand market movements in real time. The company uses its proprietary data engine to identify and explain price movement across multiple asset classes in real time. When an unusual price move is detected, the system algorithmically pinpoints the most plausible explanation and instantly returns data-driven output.
MarketReader plans to launch its user platform in 2023 on a monthly subscription basis. The platform will feature live data and analytical tools to help users understand what is moving in the market and why. The initial feature set will be designed specifically for financial advisors and wealth managers, but the company plans to add features catering to the broader retail and institutional investing markets.
FinSMEs
18/01/2023