Boosted.ai, a distributed machine learning startup founded in 2017, announced today that has raised $8 million in new funding, which now increased the total funding raised to $11 million, to develop out its platform.
Portag3 Ventures, with participation by Dunamu & Partners and Polar Equity Partners, led the Series A round. Boosted.ai welcomed Adam Felesky from Portag3 Ventures to its board.
Boosted Insights, a machine learning platform offered by Boosted.ai, aims to allow analysts, portfolio managers, and chief investment officers to source ideas, augment their existing investment processes, and manage risks without requiring coding or other expertise.
The company’s ML capabilities enable the analysis of data in real-time at a scale and scope that is far from human skills. The platform can help minimize errors in predictions, improve risk management, identify non-intuitive relationships between securities and data and decision making.
“There are five main hurdles to deploying AI within investment management, according to CFA Institute, these are: time, cost, technology, vision, and talent,” said Chief Executive Joshua Pantony.
“Boosted Insights have a solution to all the five hurdles. As data becomes the difference between winning and losing for investors globally, Boosted Insights aims to bring elements if quantitative management to the finance industry at large.”
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