Boosted.ai Raises $8 Million In Series A Funding

Boosted.ai Raises $8 Million In Series A Funding

by NeoTech Post

Boosted.ai, a distributed machine learning platform for investment professionals, announced the closing of an $8 million Series A financing round, led by Portag3 Ventures. 

Dunamu & Partners and Polar Equity Partners also participated in the round.

Including the latest funding round, Boosted.ai has raised $11 million to date. Boosted.ai plans to use the latest funds to enhance Boosted Insights, a machine learning platform that empowers portfolio managers, analysts, and chief investment officers to augment their existing investment processes, source new ideas, and manage risks.

Funding will also be used to hire additional talent in Toronto and New York City, as well as enhance marketing and sales processes.

As part of the funding round, Adam Felesky from Portag3 Ventures has joined Boosted.ai’s Board of Directors.

Boosted Insights is an AI platform for investment professionals, supporting idea generation, portfolio construction, and portfolio monitoring without requiring users to be coders, software engineers, or data scientists. The platform also allows investment professionals to find value in alternative datasets that otherwise require extensive quantitative experience to unlock.

Co-founded in 2017 by Joshua Pantony, Jon Dorando and Nicholas Abe, Boosted.ai currently has more than a dozen active clients and services the full spectrum of asset managers, including long-only mutual funds, long-short hedge funds, family offices, and the investment arms of commercial banks. Combined assets under management managed by the Boosted.ai client base is more than $500 billion.

“Quantitative overlays, factors and stand-alone strategies are no longer options for the investment management industry – they are a requirement to compete. The challenge the industry faces is systematically and efficiently implementing them, alongside unique data sources, to stay ahead of the competition,” said Adam Felesky, CEO of Portag3 Ventures. 

“The Boosted.ai platform enables asset managers of any sophistication to do this by tapping into the most advanced machine learning tools available, augmenting their existing investment process through a user-friendly interface that does not require coding expertise.”