SAN FRANCISCO--(BUSINESS WIRE)--IMatchative Inc.'s CEO, Sam Hocking, today announced the completion of its Series B Funding Round. The company raised $20 million to support the continued development and adoption of AltX, a leading data analytics platform and marketplace for capital introduction in the global alternative asset class space.
Lead investors include Wells Fargo & Company, Control Empresarial de Capitales, S.A. de C.V., controlled by Carlos Slim, David Bonderman, founding partner of TPG Capital, and Andy Redleaf, the CEO of Whitebox, which are providing the majority of the capital. Jeff Ubben, founder of Value Act Capital, led the Series A round and also invested in this round. Sterne, Agee & Leach, Inc. served as IMatchative's financial adviser for the Series B funding round.
Mr. Hocking said: “We are delighted to have this distinguished team of strategic investors. Having some of the most successful and sophisticated investors in the world as our allies in the development of AltX is testament to the value our product provides to the marketplace, as well as the need for a more efficient and lower cost method for discovering, evaluating and investing in the hedge fund space.”
AltX uses science and technology - a combination of big data, intelligent analytics, behavioral science, and matching algorithms - to assess the risk tolerance, investment goals and preferences of investors in the fund selection process. AltX also enables hedge funds to gain deeper insights into the motivations and perceptions that shape investors' decision-making processes. The result is an innovation that improves decision-making, transparency and engagement among hedge funds and investors.
For more information on AltX, go to www.getAltX.com.
IMatchative is a San Francisco based company that uses science and technology to drive better decisions and to transform businesses. The company specializes in superior data aggregation and analysis, behavioral psychology and algorithms. AltX is IMatchative’s first product.