Investment for Financial Analytics Firm RavenPack

Financial services data analytics company RavenPack has received a $20 million investment, with which to speed the development and launch of its new AI platform, Bigdata.com, enhancing decision-making for financial professionals.

RavenPack's software helps to transform unstructured data - including news reporting and social media content - into actionable intelligence, making use of advanced natural language processing and machine learning techniques. The resulting reports and insights help clients such as hedge funds, banks and asset managers improve investment performance, manage risks and uncover market opportunities.

Bigdata, which is available in private beta to selected users this summer, pulls together real-time data sets and intelligence on global economic trends and promises financial professionals 'instantaneous insights and analytics grounded in quality sources'.

The round was led by tech advisory and investment firm GP Bullhound, via its DoubleDown I (DD1) fund, with participation also from the European Investment Bank (EIB) Group.

Armando Gonzalez (pictured), CEO and co-founder of RavenPack, says the investment 'marks a pivotal moment' for the company. 'With the support of GP Bullhound, we are set to bring our most advanced solution to the market, setting a new standard in the financial services industry. Financial professionals want to tap into the tremendous power of AI, but current chatbots have yet to fully meet their evolving needs. Bigdata.com aims to change that by empowering its users with real-time trusted data, providing a gateway to instant knowledge and confident decision-making for an eager market'.

Web sites: www.ravenpack.com and www.bigdata.com .