Financial news curation platform Accern has raised $1.2m in a Seed round.
Rostra Capital, Gurtin Ventures, 26 Ventures, Belmont Capital and Affinity Investment Group all participated in the round alongside angel investors.
The New York-based startup aims to automate the discovery of early financial news for institutional investors and uses artificial intelligence to deliver relevant stories from across more than 300 million public sources.
These include news websites, blogs, social media sites as well as public financial documents such as SEC filings.
Accern says the majority of its 500 current clients are quantitative hedge funds with a collective $40bn under management
Customers pay around $500 on average per month for access to the platform.
The company will use the capital to expand its team of 12 employees by hiring more data scientists and engineers to boost the platform’s AI capabilities.
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