This investment marks continued growth for financial research platform Sentieo that has over 700 buy-side, corporate and sell-side clients.
Financial research platform Sentieo today announced that it closed a $19 million Series A funding round led by Centana Growth Partners and existing investors. It will use the new capital to expand its global growth and product development.
Built by former Wall Street analysts, the company has undergone rapid growth over the past 18 months. Sentieo claims that it has tripled its client base, doubled its employee count and earned several prestigious industry awards. Sentieo leverages artificial intelligence (AI) and natural language processing (NLP) to surface financial insights for investment management and corporate intelligence clients.
“As a former hedge fund analyst, I experienced first-hand the pain of tracking an ever-increasing list of data sources,” said Alap Shah, CEO and Co-Founder of Sentieo.
A difficult process already, but when combined with outdated tools for sharing content with teammates and organising decision-making, it can become a serious drag on performance. To counter this, Sentieo’s AI-powered search engine pairs with their research notebook and RMS.
“This means that clients can move from data identification to extraction and collaboration in a single web-based, mobile-friendly workflow. The results are clear: faster, deeper insights and better performance,” said Alap.
Its portfolio of clients includes several top hedge funds, mutual funds, Fortune 500 corporations and investment banks.
Launched in late 2015, the company currently has more than 700 clients. Sentieo extracts crucial information in seconds to make researchers more productive and features a search library that includes clients’ internal content, financial disclosures and research from over 1,000 sell-side contributors.
The company’s integrated research management system further streamlines document management and unlocks seamless collaboration for financial teams.
“We are incredibly excited to join them as they grow into a major player in the financial research technology industry, a market that is long overdue for the kind of innovation that Sentieo is providing,” said Eric Byunn, Partner at Centana Growth Partners.
“Some of the best investors in the world rely on Sentieo’s software platform on a daily basis and we are thrilled to support the team as they continue to focus on innovative product development and expansion of their impressive global customer base,” says Tom Davis, Principal at Centana Growth Partners.
The company competes with Alpha Sense, Thomson Reuters, Tagnifi, Kurtosys and S&P Global Market Intelligence.
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