T Ranks, the Israeli company offering financial analytics services, announced on Thursday that it has secured a $77 million investment. The funding round was led by technology company Prater and saw partic ation from several unnamed venture capitals.
The funding came when the company is witnessing a massive demand for its analytics products among the growing retail trader base. The company revealed that it has more than 4 million monthly users after witnessing a 300 percent jump for its subscr tion-based services last year.
Established in 2012, T Ranks offers a stock research platform that makes alternative databases available to retail traders. It uses natural language processing to analyze the performance of the professional analysts for its services.
“In addition to being the only company that ranks analysts based on their performance rather than the prestige of the bank they work for, we are the only company that makes aggregated analyst ratings available to retail investors, ” T Ranks Co-Founder and CEO, Uri Gruenbaum, said.
“We analyze all finance-related news, corporate filings, analyst research and social media to provide retail investors with the same level of information that only institutional investors can afford. By doing so, we enable retail investors to make data-driven investment decisions, ” he explained.
Closing Partnersh Deals
The company is now closing partnersh deals with many investment platforms to further boost its user base. Most recently, it tSocialh Stockal, an investing platform providing Indian retail investors direct access to US stocks, following the launch of its services in the United Kingdom.
With a physical presence in Tel Aviv and New York, T Ranks is aiming to more than double its headcount with the fresh proceeds. Currently, the company employs around 60 people.
“We loved the fact that T Ranks provides unbiased and objective insights. Our vision is for T Ranks to become the leading information platform that every investor uses before making an investment decision, ”Nationsrey Yashunsky, Founder of Prater.