Dataconomy
  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
Subscribe
No Result
View All Result
Dataconomy
  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
Subscribe
No Result
View All Result
Dataconomy
No Result
View All Result

Kensho Lands $15 Million Worth of Funding from Goldman Sachs

by Artur Lapinsch
December 15, 2014
in Data Science, Finance, News
Home Topics Data Science
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsAppShare on e-mail

Kensho, a pioneering real-time statistical computing systems and scalable analytics architectures announced on Monday that it has acquired a $15 million funding round led by Goldman Sachs. The bank will roll out the platform across its business as well as to some of its big clients.

The terms of the deal remain undisclosed, but sources say this puts Goldman on top of Kensho’s list of investors. The source added that the deal placed Kensho’s valuation in the 9-figure range. Kensho had previously raised a $10 million seed round from the likes of Accel Partners, Breyer Capital, General Catalyst, Google Ventures and NEA.

Cambridge-based Kensho harnesses massively-parallel statistical computing, user-friendly visual interfaces and breakthroughs in unstructured data engineering to create the next-generation analytics platform for investment professionals. Kensho reportedly offers a Siri- like platform for investors analysts and traders, answering financial questions.

Their website states- “Addressing the most significant challenges surrounding investment analysis on Wall Street today—achieving speed, scale, and automation of previously human-intensive knowledge work—Kensho’s intelligent computer systems are capable of answering complex financial questions posed in plain English, and in real-time.” This adds another facet to the widespread scepticism surrounding Artificial Intelligence, possibly giving analysts a run for their money.

Daniel Nadler, chief executive of Kensho said not being able to quickly analyse hard-to-structure events – central bank announcements, geopolitical events, weather phenomena, technology product releases – was “trying to see the world with not only one eye covered, but one eye covered and the other eye half-closed.”

Regarding the investment he said, “Wall Street historically was constrained to playing in the 20 per cent of data that move markets,”. “Every Wall Street bank could only look at – with any real speed or automation – financial statistics: P/E ratios, and book value and market cap and similar things.”

Nadler further added “One problem for banks such as Goldman has been the limited number of data scientists available to analyse financial information.” He continued, “These graphical- and natural language-based computer systems open up data science to the entire firm for the first time,”

As part of Goldman’s deal, Rana Yared, managing director at the bank’s securities division, has joined Kensho’s board of directors, while Don Duet, co-head of its tech division, joins the company’s advisory board.

Read more here.

Follow @DataconomyMedia

(Image credit: Dan Nguyen)

Tags: goldman sachsKenshoStatistical Computing

Related Posts

Meet the Apple R1 processor, aka Vision Pro chip

Meet the Apple R1 processor, aka Vision Pro chip

June 6, 2023
Is Apple Vision Pro the “iPhone moment” for mixed reality?

Is Apple Vision Pro the “iPhone moment” for mixed reality?

June 6, 2023
Zoom serves local data storage – but only for the rich

Zoom serves local data storage – but only for the rich

June 6, 2023
The symbiotic dance of technology and art

The symbiotic dance of technology and art

June 6, 2023
Why is the most anticipated AAA game of 2023 not working for some?

Why is the most anticipated AAA game of 2023 not working for some?

June 6, 2023
What to do when Quillbot is down?

What to do when Quillbot is down?

June 6, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

LATEST ARTICLES

Meet the Apple R1 processor, aka Vision Pro chip

Zoom serves local data storage – but only for the rich

Is Apple Vision Pro the “iPhone moment” for mixed reality?

The symbiotic dance of technology and art

Why is the most anticipated AAA game of 2023 not working for some?

What to do when Quillbot is down?

Dataconomy

COPYRIGHT © DATACONOMY MEDIA GMBH, ALL RIGHTS RESERVED.

  • About
  • Imprint
  • Contact
  • Legal & Privacy
  • Partnership
  • Writers wanted

Follow Us

  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
No Result
View All Result
Subscribe

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Policy.