Alternative data platform Eagle Alpha has raised $1.8 million in investment through its latest funding initiative, and has added new members to its board and advisory panel.
The platform is intended to help asset managers make the most of alternative data through customisable tools, proprietary analytics, data sets, research and thought leadership, and includes access to data on consumer spending and desktop traffic, as well as data extracted from websites.
The latest fund-raising initiative saw investment from both new and existing partners.
Emmett Kilduff, CEO of Eagle Alpha, said: “Asset managers are integrating alternative data into their investment processes. This funding round is an important milestone on our journey to become the leading alternative data platform for asset managers.”
The platform has also announced that Adrian Faure will join its advisory panel. Faure has 25 years of experience in sell-side research, and is currently managing director of corporate finance and capital advisory boutique Bosham Capital Advisors.
Faure said: “In a world where the value of sell-side research has markedly declined, Eagle Alpha’s alternative data analytics stands out as a very powerful, differentiated and valuable addition to the institutional investor’s tool box.”
“I look forward to helping [Kilduff] and his team continue to build Eagle Alpha into the pre-eminent provider of alternative data analytics to the investment community”.
This follows the appointment of Gawn Rowan-Hamilton, co-founder and former chief financial officer of MergerMarket, to the board in August.
