Eagle Alpha Raises $1.5 Million from Hedge Funds
Dublin-based social media analytics startup Eagle Alpha has raised $1.5 million in funding from a group of current and former senior executives at banks and hedge funds, the seed capital infusion will help the startup improve both its product.
The firm uses technology to scan social media content to identify information that can affect the markets – information that can provide valuable insights for brokers and institutions such as hedge funds and investment banks.
ValueWalk asked chief executive Emmett Kilduff how the firm planned to differentiate its offering from the likes of Social Market Analytics, Dataminr and Datasift. Like these, Eagle Alpha sells its information products to hedge funds and investment banks, but Kilduff says it differs by relying on people, as well as technology:
“Datasift and GNIP are resellers of the Twitter firehose and are therefore not competitors,’ said Kilduff. ‘In fact, we work with both. The other companies are in a similar space but we do very different things. We are focused on finding insightful themes, trends and data on the web. For example, last week we published a research report on Shadow Banking in China that was based on information from Twitter’s rivals in China: Tencent Weibo and Sina Weibo.”Source: ValueWalk