Madison-based fintech startup Quiver Quantitative has closed a $2 million funding round. The company gathers alternative stock data from sources across the internet and then pulls the information together into a free online dashboard.
Quiver Quantitative was started by UW-Madison students James and Christopher Kardatzke with the goal of bridging the information gap between Wall Street and non-professional investors.
“Hedge funds and other professional investors spend billions a year on alternative data to inform their investment decisions,” said James Kardatzke, chief executive officer of Quiver Quantitative. “We want to level the playing field by bringing this same information to individual investors.”
Quiver Quantitative’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 Quantitative 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 Quantitative has grown to over 300,000 registered users. According to the company, they have grown their user base by over 600%.
The $2 million funding round was led by Indianapolis-based Allos Ventures, with additional funding from M25, Bascom Ventures, Lancaster Investments, Connetic Ventures, WARF, and the Idea Fund of La Crosse.
“Quiver is uniquely positioned to support the recent surge of retail investors that are looking to be better informed and have deeper access to research tools in their investment decisions,” said David Kerr, partner at Allos Ventures. “Additionally, financial institutions looking to stay ahead of the game are seeking out Quiver for their unique alternative datasets.”
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