New York based financial and data analytics platform Ravenpack has raised $5m in venture funding from investor Draper Esprit. RavenPack supplies financial news analytics to banks, trading firms and other financial institutions.
According to Armando Gonzalez, CEO of RavenPack, in a statement on the company developments: “Our new product and backing from Draper Esprit strengthens our ability to democratize analytics on big data in capital markets. The new platform opens up access to unstructured data analytics which until now have only been available to the most sophisticated quantitative investors and traders.” “RavenPack has become a vital source of information for quantitative investors. The new RavenPack platform bridges the gap between systematic and fundamental investment managers exploring market anomalies and looking for an edge from unstructured big data,” explained Yin Luo, Vice Chairman of Wolfe Research.