Friday, February 2, 2018

Bitvore Brings Latest Funding Round To $14.2M

Irvine-based Bitvore, the big data, artificial intelligence, and data analytics startup, has upped its latest funding round to $14.2M, as part of what appears to be an ongoing $17.75M funding effort. According to a regulatory filing by Bitvore, the funding comes as part of an round which kicked off in December of 2016, and so far includes 36 investors. Bitvore has created an intelligence gathering and analysis system--originally developed for secretive intelligence agencies--but is now being used by finance and Wall Street customers to mine data for tracking investments. The company's products now include a tool to track information relevant to municipal bond investors; high yield bonds, investment grade bonds; direct lending and syndicated debt, private placements, and more. The company's platform is based on artificial intelligence gathering, with tools which automatically pick up important things like merger and acquisitions, financial updates, legal issues, executive turnover, and many other factors. The company's CEO, Jeff Drake, was a founder at Access360 (acquired by IBM), and also served at IBM, Akana, and ServiceMesh. The company's President, Jeff Curie, was also an executive at Access360, IBM, and SupplyFrame. The technical team at Bitvore includes such well known local technology execs as Greg Bolcer (CTO) and Alan Chaney (Chief Software Architect, VP Engineering). Details on the ongoing funding, and previous rounds, have not been announced by the company, however, the company is backed by such investors as Yuri Pikover at 37 Ventures, as well as the Tech Coast Angels and other angels. More information »