SigOpt Partners with Two Sigma
SAN FRANCISCO, March 5, 2019 — SigOpt, Inc. (“SigOpt”), a leading provider of solutions that maximize the performance of machine learning, deep learning and simulation models, announced a strategic partnership with Two Sigma, a leading systematic investment manager. Two Sigma has become a customer of SigOpt and is advising SigOpt as they build out their platform. Additionally, as part of the partnership, Two Sigma is making a minority equity investment in SigOpt, joining Andreessen Horowitz, Blumberg Capital, SV Angel, Y-Combinator, DCVC and In-Q-Tel as investors in SigOpt. The terms of the deal were not disclosed.
SigOpt helps companies improve their research and model development process by streamlining specific tasks. Specifically, SigOpt will support Two Sigma with parameter tuning, the time-intensive task of choosing a set of parameters to help optimize this process. Companies like Two Sigma spend a significant amount of time on parameter tuning. With SigOpt, Two Sigma can focus more time on other parts of the research process and delivering high value outcomes for investors.
The SigOpt platform is a best-in-class solution for companies like Two Sigma. The platform is agnostic to model, library or infrastructure type. Additionally, it includes proprietary advanced algorithms that enable experts to develop novel strategies, evaluate them with entirely new experimentation techniques like multimetric optimization, and scale this experimentation with an asynchronous parallel approach.
As Two Sigma Chief Innovation Officer Matt Greenwood explains, “Experimentation is a key part of Two Sigma’s business and it is only as good as the process which enables it. We rely on SigOpt to reduce time spent on these tasks, making our research process more efficient.”
This is core to SigOpt’s mission according to SigOpt CEO and Co-Founder, Scott Clark. “Our mission is to empower experts. We have the biggest impact when we are embedded in platforms that scale model development and work with leading employers of these highly skilled researchers. We are lucky to accomplish both with a partner like Two Sigma.”
As part of the strategic partnership, Two Sigma will also advise SigOpt on its product development and roadmap. Its experts will help articulate how SigOpt can continue to deliver innovative solutions for all of its customers with both the current platform and new areas of development.
Source: SigOpt, Inc.