Elsen has closed a $400,000 round of funding for its financial technology platform, the company announced today. Elsen plans to use this capital to accelerate growth and add additional resources to its engineering team. Elsen offers a platform for bringing massively-parallel processing to financial data. Complex time-series calculations like Monte Carlo simulations and algorithms widely run in financial services for backtesting, pricing and risk management can be run in parallel. Elsen’s platform is data- agnostic and supports custom data sets.
Financing comes from individual investors and is led by local angel investor Bret Siarkowski and his AngelList syndicate, which is backed by Atlas Venture’s Boston Syndicates. Elsen has previously been bootstrapped.
“We are very pleased to partner with these investors. They are a unique resource and their guidance and knowledge will help take Elsen to the next level,” said Zac Sheffer, co-founder and CEO. “This commitment demonstrates their belief in Elsen’s technology and in our team.”