Quiver Quantitative, an alternative data platform for retail investors, formally announced the closure of a $2 million round led by Allos Ventures.
M25, Kinetic Ventures, Bascom Ventures, Lancaster Investments, the Wisconsin Alumni Research Foundation in Madison, and the Idea Fund of La Crosse also participated.
What Happened: A popular term amongst investment professionals, alternative data allows investors insight into the performance of an asset, outside of traditional sources like company and SEC filings, press releases and the like.
Founded by James and Christopher Kardatzke — as part of a vision to democratize access to insights not already dissected by Wall Street — Quiver scrapes the internet for data, and unpacks it via an easy-to-use web dashboard.
Why It Matters: Since launching, Quiver has allowed users access to large data sets that cover general trends like stock transactions by U.S. senators and representatives, as well as specific securities, such as Tesla Inc (NASDAQ:TSLA).
“Hedge funds spend over a billion dollars every year on alternative data, but it has historically been prohibitively expensive for non-professional investors,” CEO James Kardatzke once told Benzinga. “We created Quiver Quantitative to bridge this data gap between retail investors and Wall Street, by providing high-quality alternative data on a free, easy to use investment research platform.”
Going Forward: In further leveling the playing field for investors, Quiver will add data and functionality.
"Quiver is uniquely positioned to support the recent surge of retail investors that are looking to be better informed and have deeper access to research tools in their investment decisions," Allos Ventures partner David Kerr said in a statement. "Additionally, financial institutions looking to stay ahead of the game are seeking out Quiver for their unique alternative datasets.”
To learn more about Quiver Quantitative, click here.
