Eagle Alpha Announces USD $2.4 Million Funding Round

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Aug 06, 2019, 09:58 ET

NEW YORK and DUBLIN, Aug. 6, 2019 /PRNewswire/ -- Eagle Alpha is pleased to announce their latest round of funding of over USD $2.4 million; their largest funding round to date.

Eagle Alpha has been providing alternative data solutions since 2012. The new investment round will bolster Eagle Alpha's ambitions for major expansion. "To date alternative data has been primarily utilized 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," said Emmett Kilduff, Founder and CEO of Eagle Alpha. "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 buyside vertical and paving the way for new verticals such as private equity and corporate entities," he added.

The funds will be used to further the expansion of Eagle Alpha's talent and expertise. Eagle Alpha will hire additional data scientists and engineers to strengthen their technical focus. "2020 is going to be an incredibly important year for alternative data. The data revolution is accelerating; we predict there will be over 5,000 alternative datasets available by the end of 2020. We are investing heavily in our technology and team to meet our customer's needs of prioritizing the right datasets with the data explosion that is happening," said Kilduff.

This latest investment brings Eagle Alpha's total funding to date to USD $8.7 million. Previous investors include the Irish Government's Enterprise Ireland and various business angels. Guglielmo Sartori Di Borgoricco an early angel investor and Co-founder of Blueglen Investment Partners (an alternative asset manager). Speaking of his investment he 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 a market leader driven by an impressive executive team. Alternative data is still in its relative infancy and Eagle Alpha is at the centre of this new movement."

Dale Richards, another recent new investor and board member added; "Eagle Alpha is arguably one of the key thought leaders in altdata IP and has the '10,000 hour rule' knowledge industry players (seller & buyers) are actively seeking. I'm thrilled to be with the team during their breakout phase, and during significant industry transformation - timing is perfect."

About Eagle Alpha

Established in 2012, Eagle Alpha are the pioneers connecting the universe of alternative data. With over 1,000 datasets Eagle Alpha has the largest alternative data marketplace globally. With our suite of products we deliver more solutions, to more alternative data challenges than any other alternative data company.

Solutions for data buyers include Data Sourcing, Data Analytics, Data Strategy and Bespoke Projects. To learn more about Eagle Alpha's solutions for buyers (buyside, private equity and corporates) visit www.eaglealpha.com

Solutions for data vendors include Free Profiles, Sales Referrals (Standard), Vendor License, Sales Referrals (Exclusive), Dashboards and Joint Ventures. To learn more about Eagle Alpha's solutions for vendors visit www.sellaltdata.com

SOURCE Eagle Alpha