San Francisco and Delhi-based financial research platform Sentieo has raised Series A funding of $19 Mn (INR 140 Cr) in a round led by growth equity firm Centana Growth Partners.
The company’s existing investors including Clocktower Ventures and Long Focus Capital also participated in the Series A financing round.
Sentieo plans to use the fresh funds towards global expansion and product development.
Founded in 2015 by Indian-American brothers Alap Shah and Naman Shah, Sentieo is a financial research platform serving primarily to companies, asset managers and investment banks.
With primary operations in New York, the startup uses artificial intelligence and natural language processing to provide financial data and insights to its customers.
“We are incredibly excited to join them as they grow into a major player in the financial research technology industry, a market that is long overdue for the kind of innovation that Sentieo is providing,” Eric Byunn, partner at Centana Growth partners.
Prior to this round, Sentieo raised $6 Mn fresh funding and continues to count a host of leading corporate executives and investment managers among its backers.
Alap Shah, chief executive of Sentieo, said, “We built Sentieo’s AI-powered search engine to effortlessly pair with our research notebook and research management system. This means that clients can move from data identification to extraction and collaboration in a single web-based, mobile-friendly workflow.”
With a team of 160 employees across India and US, Sentieo claims to process over 20 Mn financial documents from more than 64,000 global companies to more than 700 clients.
“Some of the best investors in the world rely on Sentieo’s software platform on a daily basis and we are thrilled to support the Sentieo team as they continue to focus on innovative product development and expansion of their impressive global customer base,” Tom Davis, principal at Centana Growth Partners, said.
At present, India is in the middle of fintech revolution. According to Inc42 Indian Tech Startup Funding Report H1 2018, fintech startups raised $631.29 Mn across 70 deals. The fintech sector marked a sweeping victory, occupying the first spot in terms of tech startup funding in H1 2018.
With more than 500 fintech startups in India, the country is aiming for financial inclusion with even the government currently reviewing the effect of the fintech industry in the country.