FeedStock, an AI-driven SaaS business that uses the latest natural language processing technologies to enable financial services companies to meet both their compliance requirements and commercial goals, announced on Monday it secured £2.5 million through its latest investment round, which was led by Praetura Ventures with participation from Force Over Mass and existing investor Illuminate Financial Management.
Founded in 2015, FeedStock states it uses next-generation AI methodologies to filter, track, and classify work-related activities for clients in capital markets.
“The system is integrated and non-disruptive. It sits in your existing IT infrastructure to automatically capture interaction data across applications and business tools to generate rich, insightful engagement analytics. FeedStock is a limitless, progressive technology designed to sharpen your competitive edge.”
While sharing more details about the company, FeedStock Co-Founder, Charlie Henderson, stated:
“With our background in highly regulated businesses, we are seeing enormous appetite for our proprietary technology; not only from businesses required to comply with MiFID II, but also for enterprises that are looking to leverage AI as a core component of their business for efficiency gains and revenue generation. Financial services firms recognise that investing in their compliance and technology is key to winning and retaining the trust of customers and investors. These businesses also understand the importance of analysing data to power smarter decisions ahead of their competitors.”
In regards to the funding round, Henderson added:
“It’s clear to us that the team at Praetura Ventures understands the opportunities and challenges in our sector, and also understands the potential of where we can take the business. Their entrepreneurial and proactive approach resonates with our values and they will help us to successfully deliver our growth strategy. We are looking forward to working with them closely.”