Angel investment firm WorldQuant Ventures has announced that the company is going to fund Benzinga with $3 million. The investment is aiming to continue the development of the media company’s infrastructure and to enable the firm to continue growing its business.
The total amount of raised capital has been spread between different investors including the founding partner of Detroit Venture Partners Dan Gilbert, former Managing Director of Global Equities for DLJ Stuart Robbins, senior advisor at Kita Capital Joshua Levine, and the founders of Lightbank Brad Keywell and Eric Lefkofsky. Some funding has also been provided by other strategic investors.
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Commenting on the announcement, the managing director of WorldQuant Ventures, Steven Lau, said: “The world of finance needs a voice focused on delivering valuable insight to its clients as well as highly actionable data sets at incredible speed, and Benzinga’s consistent ability to do exactly that presented a great investment opportunity for WorldQuant Ventures.”
“The investment is a testament to the talent of our team and the power of our mission to have such a strong group of investors believing in us. Working with strategic investors of this caliber reinforces Benzinga’s potential to disrupt the way the markets consume information,” added Benzinga’s CEO Jason Raznick.
The company is aiming to invest the proceeds to boost the amount of data scientists, editorial staff and developers.