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Bailey McCann, Opalesque New York: Last year, Opalesque reported on Eagle Alpha, a company that launched a new Twitter application for financial firms that falls in-line with current financial compliance requirements. The service was then available to market participants seeking an investment edge including the buy-side, sell-side, corporates and retail investors. At the time, the product was in its initial semi-public beta. Now, the firm reports it has raised $2.7 million to continue refining its offering.
The second round of funding closed today on $1.2 million, including commitments from both new and existing investors. A more formal, Series A round is on tap for the company in early 2015. The company is part of the growing cohort of vendors offering new services as a result of the JOBS Act.
Investors include individuals from Barclays Capital, CQS, Deutsche Bank, Schroders and – most recently – Twitter. In July of this year, Evan Weaver, Twitter’s former Technical Architect, joined the team.
"Employees in banks and hedge funds can't access social media for the most part, but there is valuable information out there that could be helpful," Emmett Kilduff, Eagle Alpha’s CEO and former Morgan Stanley and Credit Suisse investment banker told Opalesque at launch.
What was called Social Sonar has morphed into a service called Web Watch ...................... To view our full article Click here
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