NYC Fintech Startup Apteo Raises $1M to Build a Data Science Platform
NEW YORK, Nov. 25, 2019 — New York City-based startup Apteo, today announced a $1 million seed round to fuel growth for its data management and analytics platform, OneData. Ripple Ventures led the round, with participation from Entrepreneurs Roundtable Accelerator (ERA), KPB Capital, CFV Ventures, and notable angel investors including Gavin Ezekowitz, previously at RBC Capital Markets.
In connection with the fundraise, Apteo publicly launched a free cloud version of OneData to the public. The platform leverages machine learning and natural language process to help financial professionals discover and analyze data that is relevant to their research processes. The cloud platform launches with over 2 million public traditional and alternative datasets that are automatically cleaned, categorized, updated, and tagged down to keyword, sector, and company.
The product’s data library surfaces data that is relevant and impactful to key company metrics such as revenue and earnings. Its analytics module allows users to quickly validate whether datasets are relevant to financial metrics, as well as forecast key metrics into the future using a point-and-click interface, giving anyone the power to build an A.I. model without knowing data science or coding. OneData is currently used by some of the industry’s largest hedge funds, sell-side banks, and corporates, who are looking to use data to improve their decision making.
“Financial professionals are increasingly interested in using data to make informed decisions, but are running into significant challenges finding, managing, and analyzing data in a secure and compliant manner,” said Shanif Dhanani, co-founder and CEO of Apteo. “Many of them don’t have a background in data science, so we designed OneData to make it easy for them to combine their domain expertise with OneData’s analytical tools so they can easily discover and use data, allowing them to save time and focus on higher-value tasks.”
With their public launch, Apteo is offering a free tier of their platform, which allows users to view all datasets and access a basic version of the analytics module. Users can also subscribe to a professional tier that includes the ability to download data and run advanced analytics.
Unlike other products that are catered towards machine learning experts, Apteo’s platform is designed for all users, even those without a background in data science. The company’s long-term objective is to facilitate data-driven decision-making across all industries and verticals. They aim to simplify the discovery and management of paid, proprietary, and public data, and to empower professionals to leverage their domain expertise to derive insights by using sophisticated analytics tools.
“Enterprises are increasingly facing common challenges as they try to embrace a data-driven culture. We believe Apteo’s data science platform is uniquely positioned to address many of these challenges across financial services, with significant potential beyond finance as every enterprise increasingly becomes more data-oriented,” added Matt Cohen, Managing Partner of Ripple Ventures.
To learn more about Apteo, visit www.apteo.com.
Apteo is a fintech startup based in New York City that helps finance professionals make smarter decisions with A.I. and analytics. Their data science platform helps companies catalog internal and external data, identify datasets that are relevant to their workflows, and forecast key metrics using machine learning, without requiring data science expertise.