Financial research platform Sentieo that is based in San Francisco and Delhi has secured funds amounting to $19 million (about Rs 140 crore) in its Series A round of equity funding. This particular funding round was led by growth equity firm Centana Growth Partners.
Along with this, the three-year-old company counts a host of leading corporate executives and investment managers among its backers. The company’s existing investors also participated in this round.
“We are incredibly excited to join them as they grow into a major player in the financial research technology industry, a market that is long overdue for the kind of innovation that Sentieo is providing,” Eric Byunn, partner at Centana Growth partners said.
The company is planning to use the funds so raised to expand global growth as well as towards product development. Prior to this, the company raised $6 million in a round led by Clocktower Ventures and Long Focus Capital seven months ago.
Sentieo was founded in 2015 by Indian-American brothers Alap Shah and Naman Shah. It is basically a financial research platform catering primarily to companies, asset managers and investment banks. It makes use of artificial intelligence and natural language processing to provide financial data and insights to its customers.
“Some of the best investors in the world rely on Sentieo’s software platform on a daily basis and we are thrilled to support the Sentieo team as they continue to focus on innovative product development and expansion of their impressive global customer base,” Tom Davis, principal at Centana Growth Partners, said.
The company claims to have a team of 160 across India and the US and processes over 20 million financial documents from more than 64,000 global companies, to more than 700 clients. Some of the best investors in the world rely on Sentieo’s software platform on a daily basis.