Financial data and analytics company Visible Alpha has bagged a $38m round of funding led by Goldman Sachs.
The investment saw contributions from new investors including Banco Santander, Santander InnoVentures, Exane BNP Paribas, Macquarie Group, Royal Bank of Canada and Wells Fargo. Visible Alpha existing investors, Bank of America, Citi, Jefferies, Morgan Stanley and UBS also participated.
New York-headquartered Visible Alpha is an analytics platform for?asset managers that provides aggregated brokerage research and analysis. The solution can be used from idea generation and collaboration to resource tracking and research valuation.
Through the data, investors can compile data on cashflow statements, expense models, commodity prices, operational metrics and balance sheets, among others.
The company helps to boost efficiency, transparency and alpha generation in institutional research processes. The company also helps to solve research valuation and budgeting requirements under MiFID II.
Capital from the round will be used to support the company growth and retain its position in in the market. Visible Alpha is looking to continue its product growth and global expansion efforts.
Goldman Sachs partner and global head of principal strategic investments Darren Cohen said, ?Visible Alpha has established its position as a market leader by helping the most sophisticated buy-side and sell-side firms solve their most pressing challenges related to research dissemination, entitlements, procurement and valuation.p>
Earlier in the year, Goldman Sachs invested $250m in to online investment platform Cadre. The investment also marked a strategic partnership between the pair, which allows Goldman clients to invest via the platform.
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