Apteo, a fintech company that leverages A.I. and machine learning to help finance professionals make more in-tune decisions, announced Monday a $1 million seed round led by Ripple Ventures, to fuel the growth of its data management and analytics platform, OneData.
This development comes after Apteo launched a free cloud version of OneData to the public. The platform has over 2 million public traditional and alternative datasets that are automatically cleaned, categorized and updated.
“Financial professionals are increasingly interested in using data to make informed decisions, but are running into significant challenges finding, managing, and analyzing data in a secure and compliant manner,” Apteo CEO Shanif Dhanani said in a press release. “Many of them don’t have a background in data science, so we designed OneData to make it easy for them to combine their domain expertise with OneData’s analytical tools so they can easily discover and use data, allowing them to save time and focus on higher-value tasks.”
You can check out dozens of up-and-coming fintech companies at the fifth annual Benzinga Global Fintech Awards on Nov. 19 in New York City.
Apteo is designed for all users, even those without a data science background. The company’s objective, going forward, is to facilitate data-driven decision-making across all industries.
“Enterprises are increasingly facing common challenges as they try to embrace a data-driven culture. We believe Apteo’s data science platform is uniquely positioned to address many of these challenges across financial services, with significant potential beyond finance as every enterprise increasingly becomes more data-oriented” said Matt Cohen, Managing Partner of Ripple Ventures.