Big data firm RavenPack scores $5 million funding

Source: RavenPack

RavenPack, the big data analytics provider for financial services, is today excited to announce it has secured $5 million backing from Draper Esprit (AIM:GROW, ESM: GRW), a leading venture firm involved in the creation, funding and development of high-growth technology businesses.

Privately financed to date, this is the first financing that the company has sought from a venture capital firm. The money raised from Draper Esprit will fast-track RavenPack’s mission to transform the way investors gain insights from unstructured data. International investment banking firm EOC Partners acted as advisor to RavenPack on the transaction.

“RavenPack has become a vital source of information for quantitative investors,” said Yin Luo, Vice Chairman of Wolfe Research and Wall Street’s top-ranked quantitative analyst (six years in a row by the Institutional Investor Equity Research Survey). “The RavenPack platform bridges the gap between systematic and fundamental investment managers exploring market anomalies and looking for an edge from unstructured big data.”

RavenPack is a high growth company with more than 100 customers worldwide. With over 50 developers, data scientists, and business professionals, the company has offices in New York, London, and Marbella (Spain). The company plans to double the size of its team, further develop its flagship big data analytics platform, and reach new verticals within financial markets.

“Receiving the backing of one of the largest and most active VC firms in Europe is a strong validation of our vision to help people make better decisions using big data,” said Armando Gonzalez, CEO of RavenPack.

“RavenPack’s core value lies in turning unstructured big data into real-time actionable insight to generate significant results. This is particularly relevant for banks, hedge funds, and asset managers who are fast becoming data hoarders. Their new platform will empower investors across the board to better understand volatile markets. We’re excited to be investing in a fintech company with a brilliant track record and look forward to working with them as they become an important cornerstone in the big data ecosystem.” Simon Cook, CEO Draper Esprit
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