FinTech Studios™, the leading AI-based intelligent search and analytics platform for Wall Street, today announced that it raised $5.1 million in capital from LightChain LLC, Cultivation Capital, KEC Ventures, Six Thirty, and other investors, bringing total capital raised to date to more than $7 million. FinTech Studios was founded in 2014 by Jim Tousignant, the Company’s CEO, who previously was co-founder and President of Multex, a leading online research and financial information platform that went public in 1999, achieved a market cap of $1.5 billion and was acquired by Reuters.
FinTech Studios’ intelligent search and analytics platform for Wall Street leverages artificial intelligence (AI), machine learning (ML) and natural language processing (NLP) technology to rapidly search and analyze unstructured data from millions of online sources in 34 languages, including global and regional news, research, government data, regulatory laws and rules, and financial market data covering millions of companies, people, topics, industries and regions. “This investment by LightChain, Cultivation Capital, KEC Ventures and SixThirty allows us to extend our leading AI-based market and regulatory intelligence platform, accelerate our revenues and expand our sales, product and engineering teams” said Jim Tousignant, founder and CEO of FinTech Studios.
“We are excited to be partnering with Jim and the FinTech Studios team. Jim brings a proven track record in delivering world class technology to financial services companies. We believe that the FinTech Studios AI platform enables financial services companies to better deal with the constant influx of market information, which in turn enhances decision making and delivers efficiencies in a variety of functions from sales to research to legal and compliance”, said Rodger Riney from Lightchain, LLC.
“Cultivation Capital believes in the team and technology at FinTech Studios and are excited to partner with them. Fintech Studios has identified a critical need in financial services companies and has crafted the right solution,” added Tim Stern, General Partner at Cultivation Capital. “Once we spoke to their customers, we were convinced.”
“KEC Ventures led FinTech Studios’ initial seed round in 2017 and we’re excited to also participate in this new round and help finance the company and leverage it’s growing sales pipeline, enterprise customer base and world-class AI technology and analytics platform”, said Jeff Parkinson, Managing Director of KEC Ventures.
“Jim Tousignant and the FinTech Studios team have an astute understanding of the habits, flow of work and channel preferences of research and risk management professionals in financial services”, said Atul Kamra, SixThirty’s Managing Partner. “FinTech Studios flagship offering, APOLLO, brings together the team’s deep domain knowledge and elegant design in a cloud native setting, to dramatically improve the cost and quality of the intelligent search and research experience.”
About Lightchain LLC
Lightchain LLC is the family office of Rodger Riney, the former CEO and founder of Scottrade, a discount brokerage that was acquired by TD Ameritrade in 2017.
About Cultivation Capital
Cultivation Capital is a venture capital firm supporting extraordinary entrepreneurs. We are a family of venture funds and accelerators investing in technology and life sciences companies. These funds have backed over 100 companies since the firm’s founding in 2012, making us one of the most active seed investors in the country. Cultivation Capital helps businesses achieve pivotal milestones with the help of our general partners, investors, and other portfolio companies. (http://www.cultivationcapital.com).
About KEC Ventures
KEC Ventures is a seed-stage venture capital fund located in New York City. We invest in uniquely talented founders who have the opportunity to transform the markets in which they operate. Our team is intentionally diverse and comprised of individuals who have both deep operating and investment experience. We remove the typical “Partner-first” approach, whereby unlocking the full resources of the fund to each portfolio company. (http://KECVentures.com).
About Six Thirty
SixThirty is a global venture capital fund that invests in late seed-stage financial technology (“FinTech”) startups and provides them with mentorship and connections to the leading financial services companies in the country. The startups receive initial funding up to a $250,000 investment in exchange for a negotiated percentage of equity. SixThirty’s portfolio companies receive individualized attention. The commitment of mentors and partners to work in the trenches with founders on their business models and accelerate their commercialization continues to be a differentiator for SixThirty. (https://sixthirty.co/).