Spanish big data analytics platform RavenPack has raised its first funding round of $5 million from Draper Esprit.
RavenPack, based in Marbella and with offices in London and New York, develops data analytics tools for hedge funds. It recently launched a new product for the monitoring of market-moving events.
It plans to invest the funds in doubling its staff, further developing its platform, and targeting new financial market verticals. It currently has 100 customers.
“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,” commented Armando Gonzalez, CEO of RavenPack.
“ new platform will empower investors across the board to better understand volatile markets,” added Simon Cook, CEO of Draper Esprit.
“RavenPack has become a vital source of information for quantitative investors,” said Yin Luo, cice chairman of Wolfe Research.
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