Eagle Alpha, which offers services in data sourcing, data analytics and alternative data, will use new funding to expand its team.
This morning (6 August), alternative data solutions company Eagle Alpha announced that it has raised more than $2.4m. This brings the company’s total funding to date to $8.7m. Previous investors include Enterprise Ireland and angel investors.
Guglielmo Sartori Di Borgoricco, angel investor and co-founder of Blueglen Investment Partners, said: “When I first invested in Eagle Alpha, I was drawn by the exciting opportunity to invest in a company building momentum in a new industry. I have seen the business evolve from start-up to market leader driven by an impressive executive team.”
In a statement released today, the company’s CEO and founder, Emmett Kilduff, said: “To date, alternative data has been primarily utilised by asset managers and hedge funds.
“Our mission is to increase the adoption of alternative data globally and to see it established as a mainstream source of data across multiple industries.
“With the support of our strategic investors we are accelerating development of our technology solutions, expanding our number of data partners, increasing penetration of our existing buy-side vertical and paving the way for new verticals such as private equity and corporate entities.”
Founded in 2012, Eagle Alpha is based in New York and Dublin. The start-up offers services in data sourcing, data analytics and alternative data. It also runs bespoke projects for clients in areas such as strategic investment integration projects, research questions, data assignments and alternative data-driven models.
Eagle Alpha plans to further expand its talent and expertise with the latest round of funding. It said that it intends to hire additional data scientists and engineers to strengthen its technical focus.
Dale Richards, a recent investor and board member, said: “Eagle Alpha is arguably one of the key thought leaders in altdata IP and has the ‘10,000 hour rule’ knowledge that industry players – buyers and sellers – are actively seeking. I’m thrilled to be with the team during their breakout phase and during significant industry transformation. The timing is perfect.”