MADISON — Quiver Quantitative, a leading provider of next-generation investment research tools to retail investors, announced that it closed a $2 million equity financing led by Allos Ventures, with participation from M25, Bascom Ventures, Lancaster Investments, Connetic Ventures, WARF, and the Idea Fund of La Crosse. Quiver bridges the information gap between retail investors and Wall Street by making high-quality alternative data available to everyone. The company will use the funds to accelerate retail user growth, bring new proprietary datasets to its platform, and add advanced backtesting and analytics capabilities on top of its existing offerings.
Alternative data has exploded in the world of professional investing over the last decade, as hedge funds and other institutions rush to gain an information edge over the rest of the market. However, alternative data has been almost completely inaccessible to non-professional investors. This has led to a one-way flow of information, with hedge funds buying up consumer data (such as credit card transaction history and social media data) and using it to outperform retail investors in the market.
Quiver’s web platform provides tools and dashboards that make it easy for retail investors to start using alternative data to guide their own trading decisions. In July, Quiver rolled out a free app on iOS and Android. These platforms provide access to a wide variety of alternative datasets, tracking everything from social media sentiment to government contracts to personal stock trading by members of U.S. Congress.
Since launching in 2020, Quiver has grown to over 300,000 registered users and has been featured in platforms such as Financial Times, the Washington Post, and Bloomberg. Over the last year, they have grown their user base by over 600%.
“Hedge funds and other professional investors spend billions a year on alternative data to inform their investment decisions,” said James Kardatzke, CEO of Quiver. “We want to level the playing field by bringing this same information to individual investors.”
Quiver also enables financial services companies to integrate Quiver datasets into their own products, leading to partnerships with companies such as Roundhill Investments, Seeking Alpha, and TrendSpider.
“We are thrilled to partner with Quiver and support their long-term success,’ said David Kerr, partner at Allos Ventures. ‘Quiver is uniquely positioned to support the recent surge of retail investors that are looking to be better informed and have a deeper access to research tools in their investment decisions. Additionally, financial institutions looking to stay ahead of the game are seeking out Quiver for their unique alternative datasets.”
About Quiver Quantitative: Quiver Quantitative scrapes alternative stock data from across the internet and aggregates it in an easy-to-use platform designed for non-professional investors. Quiver allows these retail investors to tap into the power of big data, and have access to the same resources that are increasingly being used to drive investment decisions on Wall Street. The Quiver API allows algorithmic traders and enterprises to build directly on top of Quiver’s underlying data feeds and is currently used by several leading financial institutions and enterprises. For more information, visit Quiver Quantitative
About Allos Ventures: Allos Ventures targets investments in early-stage technology companies based in the Midwest. The firm focuses on investments in B2B software companies at the Seed or Series A stage in sectors such as Human Capital Management, RegTech, FinTech, HealthTech, EdTech, and Transportation and Logistics Management. In addition to growth capital, portfolio companies benefit from the extensive operating and business-building experience of the firm’s managing directors, who make themselves available as needed to support portfolio company growth.
