After raising seed funding in a round led by 500 Startups in November 2015, mobile market data notification firm Call Levels has announced a new investor. Injecting funds is the Lippo Group, which is headed by the Riady family of Indonesia, ranked #8 in Forbes Indonesia’s Richest list.
The new investment occurs as the firm has experienced strong growth for their service due in part to increasing volatility in equities during 2016. According to Call Levels, it has registered 400% user growth in the past three months, has 11 new alerts set every minute across its customer base and it supports 10,000 trading products.
As part of its growth strategy, Call Levels is targeting both private investors as well as companies that would be able to integrate its technology. Commenting on the investment, Call Levels co-founders Daniel Chia and Cynthia Siantar stated: “We empower not only financial institutions, professionals, traders investing heavily in technology but also everyday participants to give everyone that edge.”
While terms haven’t been disclosed, the deal appears to be another case of a startup raising funds earlier rather than later to brace for an expected decline in venture funding this year. Last week, WorldRemit closed a $45 million funding round even as it disclosed that it still had ample cash from a previous investment.