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Delphia Adds $60M Series A To Boost Headcount, Launch Token, Expand Data Reach

Delphia closed a $60 million Series A funding round led by Multicoin Capital. 

Benzinga · 06/10/2022 12:58

Delphia closed a $60 million Series A funding round led by Multicoin Capital. 

Participants in the round include Ribbit Capital, FTX Ventures, Valor Equity Partners, FJ Labs, Lattice Ventures, Cumberland, Thomas Bailey from Road Capital and M13.

Funds are to be used for the launch of a native rewards token, as well as increase the number of ways users can contribute their data and expand headcount.

Context: Delphia developed revolutionary algorithms that crunch terabytes of data — consumer spending insights, employment patterns, and public opinion data — to predict the fundamentals of thousands of stocks for users.

Starting this summer, those who invest through Delphia will also have the opportunity to contribute their own data to its algo-advisor in return for a native token that can be traded freely or redeemed for membership benefits, thus leveling the playing field between institutional and retail investors.

Why It Matters: In January, co-founder and CEO Andrew Peek said the firm was looking to grow its team, build more application features and raise funds to subsidize alternative data purchases.

“Attitudes around personal data have shifted dramatically, and people are acutely aware that data is valuable now and ready for products that use it in an explicit way to benefit them,” he had said.