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Quantopian Raises $6.7 Million in Series A Round

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In a week that already has seen funding announcements from Finovate alums, azimo and Leaf, here comes news that Quantopian (FinovateSpring 2013) is also on the receiving end of a major capital infusion.

Quantopian announced today that the company had secured $6.7 million in its latest funding round. Participating in the Series A were Khosla Ventures and seed capital investor, Spark Capital. This puts Quantopian’s total capital at more than $8 million. The company raised $2.1 million in seed financing at the beginning of the year.

Quantopian Live Trading provides quantitative traders and investors with a browser-based algorithmic trading platform. Users can build and share their own algorithms, as well as take advantage of historical backtesting and real-time, simulated trading features. The technology also allows traders to execute their algorithms directly from the Quantopian platform itself.

The company has a userbase of 10,000, which has racked up more than 600,000 years in backtested trading strategies. The platform requires some technical coding skill, but the service is free and includes features that allows users to “clone algorithms” rather than building algorithms from scratch.
Quantopian is led by co-founders John Fawcett (CEO) and Jean Bredeche (CTO), and is headquartered in Boston.