Sentieo, a fintech startup founded by Alap Shah and Naman Shah and based in the United States and India, has bagged $20 million in a Series B round of funding.
Ten Coves Capital led the round, joining in with existing investors Centana Growth Partners and Studio Management. Ten Coves Capital's founder and managing partner, Ned May, will join Sentieo's board of directors.
“We see a huge opportunity to replace hard-to-use and expensive point solutions that slow down the journey to uncover competitive insights. We are excited to be working with Ned and Ten Coves to accelerate the transformation of the investment research process,” Sentieo CEO David Lichtblau said.
For executives, investment analysts, and academics, Sentieo is a financial and business analysis site. It has more than 1,000 customers worldwide, including 800 institutional investment firms and Fortune 500 companies.
“Sentieo’s mission is to deliver the best platform for analysts to conduct research and execute better corporate and investment strategies,” said Ned May, a Managing Partner at Ten Coves Capital. Adding further he said, “By combining all the elements of fundamental research into one seamless, AI-supported workflow, analysts can save time and discover new insights that will catapult their organization ahead of the competition.”
The startup believes that the pandemic has only increased demand for its tools and platform and that sales growth in 2020 was at an all-time high.
Sentieo is a cloud-based workflow application that combines financial document search, demand and alternative data, modelling, and analytics into a single platform. It has continued to add new features to its platform, including ESG integration, which is becoming a more relevant priority for institutional investors.