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