The Israeli company TipRanks has completed a $ 77 million round of funding

The Israeli company TipRanks has completed a $ 77 million round of funding, led by the international technology corporation Prytek and with the participation of Moore Investment House. This is the company's second round of fundraising, after raising $ 12 million last August in a scandalous deal (acquisition from existing shareholders) led by Freitech as well. So far the company has raised $ 99 million.
Typernex, was founded in 2012 by Gilad Gat (VP of Technology) and Uri Greenbaum (CEO). In 2013, it launched the system developed based on NLP-based analytics and provides analysis and ratings for private and institutional investors investing in the US, Canada and UK stock exchanges, based on textual information published on news sites, analyst reviews, public company reports and more. . The platform consolidates all the information, processes and analyzes it and thus turns it into an interactive research tool.
The company monitors the performance of over 7,000 analysts and enables the investing public to evaluate their investment advice. Typernex's solution has become the standard on Wall Street for analyst ratings and is embedded in a number of leading banks and financial institutions in the world, such as NASDAQ, Etrade and more.
According to CEO Greenbaum, access to this information provided by the company to the investing public would have cost them "tens of thousands of dollars every year" if they had not used their product. Last year, Tifranks launched additional tools and transformed an analyst rating company into a complete research platform that simplifies Big Data. "Ms. Cohen from Hadera" has access to the same information that is accessible to the world's major investment managers in a visual and simple way, "Greenbaum said.
As early as 2020, subscriber sales for the company's platform increased by 300%. The company has over 4 million monthly users on its website and over 30 million monthly users who use it through banks and financial institutions. The company employs 60 people, most of them in the development center in Tel Aviv, and intends to double the number of employees this year.
"There has been no more important period in the capital markets than the current one in which it is necessary to provide transparency and information-based tools to private investors," Greenbaum added. "We have all seen how social networking has become a platform for spreading baseless investment advice and can hurt the less experienced investor public. We plan to invest the funds raised in building and purchasing alternative types of information that will provide private investors with a real advantage." And to other markets. "
The leader of the Freitech round is led by the entrepreneur Andrei Yeshonsky and Arnon Shevlet, former senior executives of the Apax Foundation. The company's chairman is Yair Seroussi, former chairman of Bank Hapoalim. Freitech operates in the fields of finance and fintech, cyber and technology training, manpower (HR-tech) and cyber. Other Israeli companies in which she has invested are HackerU, Hopon, Ezbob, and Payme.
"There are many different trading platforms that make trading in the capital markets very accessible. This accessibility has created a new problem: unprofessional investors are misled by rumors and bad advice. We like the fact that Tifranks provides information-based and objective investment insights," Yeshonsky said. "Our vision for the company is to make it the leading information platform that every investor will use before making any investment decision."