Financial research software developer Sentieo has netted $19m in its Series A round.
The capital injection was led by Centana Growth Partners, and as part of the deal, the firm’s partner Eric Byunn will join the Sentieo board of directors.
Launched in 2015, Sentieo is a research platform for financial teams, combining traditional and alternative datasets. Asset managers, investment banks and corporations can search through financial data, manage documents and collaborate through the cloud-based platform.
Its services can help investment managers to evaluate new opportunities, wealth managers to monitor their portfolio, corporates for overseeing financial performance of peers in the industry and consultants to improve research.
Sentieo, which utilises natural language algorithms, processes more than 20 million financial documents from 64,000 companies to provide essential information.
The funding round comes after an 18-month period of strong growth for Sentieo, the company said. Over this period, the company has tripled its client base to 700, doubled its global headcount to 160 and released its Sentieo Notebook / RMS solution for collaboration.
With the new line of funding, the company is looking to speed up its R&D and enhance its go-to-market strategy, in order to improve financial decision making across the world.
Earlier in the year, the company closed a $6m investment round which was led by Clocktower Ventures and Long Focus Capital. It raised the previous round to support its product development.
Last year, Centana Growth Partners closed its maiden fund on $250m, as it looks to invest in the future of financial services.
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