Exabel closes $9m seed round to accelerate new data partnerships, launches alternative data insights product

Exabel closes $9m seed round to accelerate new data partnerships, launches alternative data insights product

Published: 10-03-2021 15:37:00 | By: Pie Kamau | hits: 807 | Tags:

Exabel, the simple-to-use Al, analytics and data platform for investment teams, announced it has closed a fourth seed investment round from investor AWC (formerly Awilhelmsen Capital Holdings), bringing its total capital raised to over $21 million. The company also announced the launch of the new "Exabel Insights Platform" product for alternative data vendors.

Arve Ree, CEO,  AWC: "We're delighted to support Exabel's next phase of growth and we believe strongly in their potential to lead the emerging Alternative Data Insights category." 

AWC is an active investor with a flexible investment mandate, investing in both listed and private companies. As part of this round AWC will make a direct investment of $6 million (MNOK 50) and provide a further $3 million (MNOK 25), in a flexible debt facility at the company's option.

Neil Chapman, CEO, Exabel: "2020 was a great year for Exabel as we grew our customer base by 5X, built and launched our first commercial partnerships and proved the value of our platform to investment teams and Alternative Data vendors alike. We are excited to welcome AWC onboard as we launch the Exabel Insights Platform, revolutionising the way Alternative Data vendors bring valuable insight from their datasets to the market."

The investment will underpin the company's plans for significant headcount growth in London and New York, and support the marketing, at scale, of the Exabel Insights Platform to the growing addressable market of over 1000 alternative data vendors globally.

The Exabel Insights Platform supports a powerful value-added insights creation, presentation and monitoring layer and is powered by Exabel's market leading Al analytics, financial modelling and data science toolset. Data vendors use the platform to first discover valuable insights in their datasets, then demonstrate that value to prospective customers in easy-to-create report cards and finally deliver a new Insights product which is attractive to a broad audience of financial buyers.

In summary, vendors benefit by curating and distributing easy to consume investable insights in addition to their raw data offerings. Investment teams benefit by getting straight to the insights without the expensive and time consuming process of extracting them from raw data inhouse.

www.exabel.com