AI Platform Offers Machine Learning Techniques to Global Financial Industry
Boosted.ai, the leading distributed machine learning platform for global investment professionals, announced the closing of an $8 million USD Series A financing round, led by Portag3 Ventures. Dunamu & Partners and Polar Equity Partners also participated in the round. Inclusive of seed capital, Boosted.ai’s total funding now stands at $11 million.
“Our mission is to bring elements of quantitative management to the finance industry at large as data becomes the difference between winning and losing for investors globally.”
Boosted.ai will use the funding to continue enhancing Boosted Insights, its proprietary machine learning platform that empowers portfolio managers, analysts and chief investment officers to augment their existing investment processes, source new ideas and manage risks. Boosted Insights is a first-to-market AI platform for investment professionals, supporting idea generation, portfolio construction and portfolio monitoring without requiring users to be coders, software engineers or data scientists. The platform also allows investment professionals to find value in alternative datasets that otherwise require extensive quantitative experience to unlock.
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Co-founded in 2017 by Joshua Pantony, Jon Dorando and Nicholas Abe, Boosted.ai currently has more than a dozen active clients and services the full spectrum of asset managers, including long-only mutual funds, long-short hedge funds, family offices and the investment arms of commercial banks. Combined assets under management managed by the Boosted.ai client base is in excess of $500 billion.
“According to the CFA Institute, there are five main hurdles to using artificial intelligence within investment management: cost, talent, technology, vision and time. Boosted Insights solves all five hurdles for managers,” said Joshua Pantony, CEO of Boosted.ai. “Our mission is to bring elements of quantitative management to the finance industry at large as data becomes the difference between winning and losing for investors globally.”
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