Toronto, ON, March 25, 2013 – iGan Partners is pleased to announce the completion of an additional investment of $900,000 in Quandl Inc., the Toronto-based intelligent search engine for numerical data. This amount, together with a first tranche completed in the fall, brings the round of funding to $1.5M. This funding also follows a $1.3M equity infusion received in 2012.
The investment was led by iGan Partners of Toronto with additional contributions from other global angel investors. These funds will assist Quandl to prepare to be “Series A-ready” later on this year. The capital will further enhance the technology behind the search engine, expand its data coverage and advance the company’s marketing strategy.
“Quandl’s technology solves the problems that millions of users of financial and societal data experience every day – numerical data on the internet is hard to find and even harder to access in a useful form”, says Tammer Kamel, CEO of the company. “Our search engine provides the exact data that they need, in a multitude of formats, instantly – no matter where, or how the data was originally published.
Since its beta launch at the start of this year, Quandl has experienced rapid user growth, exceeding the company’s objectives for the launch. The site already offers 3 million data sets from over 250 data sources, making it the largest intelligent index of numerical data on the internet.
“Quandl is a game changer and makes the day-to-day search and retrieval of essential numerical data a piece of cake for millions of business, finance and research analysts” said Sam Ifergan, president of iGan Partners “The Quandl team has a deep understanding of what these users need, and this is why Quandl makes a difference”
Quandl’s platform enables web users to quickly identify and download, in a user fiendly format, user relevant data from the millions of data sets that are available for free on the internet. Quandl can help research analysts, business professionals, scientists, teachers, students and anyone in needs of rich data not only reach the relevant data faster but also tap in the multitude of data sets that become part of the Quandl database when they are identified as quality data sets by other Quandl users. For more information, please visit www.quandl.com