Boston Hyperplane Venture Capital, a venture capital firm specializing in supporting computer training and databases, tops the investment round of $ 2.4 million in Elsen. It is a start-up that has created a technology that allows financial professionals, through quantitative expertise or other means, to check and discover new investment strategies. Jack Klink, managing partner of Hyperplane, the founder of State Street for data and analysis, will become chairman of the board of Elsen. In the investment round, venture capital companies Accomplice and Launch Capital, as well as investors from Silicon Valley and finance, also participated.
Elsen has developed network systems that work with existing financial institution technologies, allowing managers to easily extract and clean their proprietary data and data from external sources-they can be further used for research, risk analysis, and venture investments. For example, Elsen recently developed the product in conjunction with Thomson Reuters, which allows users to easily analyze the financial data of Thomson and other third parties, as well as other alternative data sources.
Elsen will use additional funding to expand sales and marketing, design and customer support, and to add other financial data. Other existing investors are Sequoia Strategic Advisors.
Recently we reported that Kairos created a venture fund for financial assistance to the middle class.