Toronto, ON, November 13, 2014 – Quandl Inc., a web-based platform for financial and economic data, has raised $5.4 million in Series A funding from August Capital, it is August Capital’s first Canadian investment in Canada. As part of the financing, Dave Marquardt and Tripp Jones of August Capital will be joining Quandl’s board of directors.
Quandl currently hosts over 10 million financial and economic datasets on a single easy-to-use platform. Quandl covers financial market data, economic and demographic data, energy and shipping data, and much more. Data is available via API, and via standard libraries for Excel, R, Python, Matlab and other tools.
Quandl intends to use the new funds to fuel its expansion into commercial data, part of its long-term mission to consolidate all numerical data on the internet and “democratize” the data industry.
“Quandl is transformational. We think this platform will become fundamental internet infrastructure,” said Jones. “Quandl’s founders understand what data professionals need, and they have built precisely that. As a result, Quandl is already the most successful data platform of its kind ever.”
Since launching in January 2013, Quandl has grown rapidly. Each month, the site serves over 5 million datasets (100 billion data points) to over 50,000 users. The addition this month of five premium databases published by Zacks Research marks Quandl’s entry into the commercial data arena and its transition from platform to marketplace.
“We are on a mission to democratize the commercial data industry,” said Tammer Kamel, co-founder & CEO of Quandl. “We’re doing this by creating a better experience and better economics for both consumers and vendors.”
Quandl users span the financial spectrum, from large hedge funds managing billions of dollars, to individuals including traders, retail investors, academics, business analysts and consultants.
“Our goal is to make it ever easier to find and use data,” added Abraham Thomas, Quandl’s co-founder & Chief Data Officer. “The current generation of data analysts is no longer satisfied with one-size-fits-all technology and draconian restrictions on use; they want the freedom to work on the data they need with the tools they choose. We make that happen.”
Founded in 2011, Quandl has also received funding from iGan Partners, XDL Capital, and private investors.
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
About iGan Partners
iGan Partners, Inc. (iGan) is a growth capital investment firm providing private funding and merchant banking services to a wide variety of businesses at different stages of their development. iGan’s team of entrepreneurs partners with dynamic management teams, empowering them to build the next big idea. iGan invests its own funds and co-investor funds in information technologies, medical devices, traditional industries, financial services, resources and real estate. iGan has offices in Toronto and San Diego. For additional information, visit iganpartners.com