A new round of funding will help equity research innovator StockViews invest in AI technology and grow its team of analysts. The London, U.K.-based company will also use the capital to open an engineering office in Hyderabad, India geared toward developing AI-based solutions.
“Our focus will be applying AI technology to identify misplaced securities in the mid-cap space,” company COO and Co-founder Sandeep Bathina said. “We are developing research tools to perform in-depth evaluation in support of our analysts.”
StockViews did not disclose the amount raised in the round, which was led by Fuel Ventures, a firm that specializes in early stage investment. StockViews raised $640,000 in funding last summer which, at the time, boosted its total capital above $1 million.
“We are excited to have Fuel on board and look forward to working with them during this next phase of the company’s growth,” StockViews CEO and Co-founder Tom Beevers said. “This funding will help us to expand the number of in-depth investment ideas we make available to our growing client base.”
In addition to the funding news, the company announced the hiring of analyst Jamie Fletcher, previously of Sarasin & Partners. StockViews noted that additional analysts are expected to be brought on board in the third quarter of 2018.
StockViews demonstrated its StockViews Signal solution at FinovateSpring 2015. Signal aggregates the recommendations of the platform’s best-performing analysts into a singular buy or sell notification. Instead of merely crowdsourcing market wisdom writ large, StockViews’ technology enables traders and investors to “crowdsource alpha” instead, focusing only on those analysts with a track record of outperformance.
A graduate of Startupbootcamp Fintech’s London program, StockViews is currently based out of Level39, the technology accelerator at London’s Canary Wharf. The company was founded in 2014.