[Funding alert] Sentieo raises $20M in Series B round led by Ten Coves Capital

Sentieon, the US and India based fintech startup founded by Alap Shah and Naman Shah, has raised $20 million in a Series B round of funding.

This round was led by Ten Coves Capital with participation from existing investors Centana Growth Partners and Studio Management. Ned May, founder and Managing Partner at Ten Coves Capital, will join Sentieo’s board of directors.

Including this funding round, Sentieo has secured $62 million in total capital. The startup has its development centre in New Delhi.

Sentieo plans to use this latest round of funding for market expansion and investments into the digital transformation of financial and corporate research.

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David Lichtblau, CEO of Sentieo, said, “We see a huge opportunity to replace hard-to-use and expensive point solutions that slow down the journey to uncover competitive insights. We are excited to be working with Ned and Ten Coves to accelerate the transformation of the investment research process.”

Sentieo is a financial and corporate research platform for executives, investment analysts, and researchers. It serves a global customer base of over 1,000, including 800 institutional investment firms, and Fortune 500 corporations.

Ned May, a Managing Partner at Ten Coves Capital, said, “Sentieo’s mission is to deliver the best platform for analysts to conduct research and execute better corporate and investment strategies. By combining all the elements of fundamental research into one seamless, AI-supported workflow, analysts can save time and discover new insights that will catapult their organization ahead of the competition.”

The startup says that the pandemic has only accelerated the demand for its tools and platform and claims it had record revenue growth in 2020.

Sentieo provides a single, cloud-based workflow platform for financial document search, market and alternative data, modelling, and analytics. It has continued to release new capabilities on its platform, which include the integration of ESG, an increasingly important area of focus for institutional investors.