Written by Jessica Galang
This round of financing is a follow-on of Portag3’s January investment in the company. The company is not disclosing the amounts as the round is still open, but has raised $15 million USD to date. In January 2016, the company raised an $8 million USD ($10 million CAD) Series A.
“The explosion of thought leadership and analysis available from sell side and independent firms across the content spectrum and asset classes, coupled with the looming implementation of MiFID II, has presented the investment community with unprecedented challenges that Street Contxt’s platform is uniquely suited to address,” said Blair Livingston, Street Contxt CEO. “With users in almost every major financial hub around the world, we’re excited to welcome Point72 and our other new partners as we continue to build out our global platform.”
Street Contxt’s platform enables sell side brokerages, independent research firms, and institutional investors efficiently distribute and manage all forms of content and analysis, including formal research, macro commentary, and content distributed from the sales and trading desk.
“Street Contxt makes it easy for buy side firms to manage their institutional knowledge, maintain total control over what they receive, accurately assess broker value add for commission allocations, and ultimately make more impactful investment decisions,” said Joe Lonsdale, Founding Partner at 8VC. “The asset management industry is currently undergoing immense change, and Street Contxt’s data-driven networks increase transparency and help both brokers and asset managers focus on the analysis that is both most valuable and relevant to traders and the functioning of the markets.”
The company said that over 180,000 global market participants across 21,000 funds receive content distributed through StreetContxt.
StartUp HERE Toronto is a publishing partner of Betakit and this article was originally published on their site.