I’m stoked to announce that we’ve raised $3M in Series B funding from an incredible group of investors led by the venture arm of our first client, WorldQuant Ventures. I’m currently writing this from my new private yacht cruising with the rest of the team off the magnificent coast of…. just kidding!
Back in 2012, WorldQuant (one of the most successful quant firms in the world) recognized the value in the Estimize data set and signed on as our first data client. Since then, Matt Ober, Steven Lau, and the WorldQuant Ventures team have given us amazing feedback and direction. When we decided it was time to seriously step on the gas, they already had a strong view on what this platform and company could become. We’re thrilled that they’ve been able to leverage our data set and will be behind us as we scale the platform and company.
It means a lot to us that several of our Series A investors participated as well, including Bob Greene at Contour Venture Partners who has been a strong guiding hand. We welcome all of our new investors, most of which come from buy side and sell side institutional backgrounds. They include:
Agilic Partners, Ross Garron (Head of Cubist Systematic), Frank Sica (Soros Funds), Brian Finn (CEO of Credit Suisse), Jarrod Yuster (Founder of Pico Quant Trading), Peter Nesvold (Argent Square Advisors).
We’ve spent the past 3 years since launching Estimize in January of 2012 building the most accurate and representative estimates data set possible. We’re now over 6,000 contributing analysts, covering 1,500 stocks and economic indicators per quarter.
I can without a shadow of a doubt say that this experiment in financial crowdsourcing has massively succeeded. A handful of published academic papers, a large report from the Deutsche Bank Quantitative Research team, our own research, and the exhaustive process it takes to sell data to large quantitative funds, have all proven that our data is not only far more accurate than our predecessors at Thomson Reuters I/B/E/S, it is significantly more representative of true market expectations. This research has also proven that Estimize data can be used as an excellent proxy for investor attention, and that there are a multitude of ways it can help to produce uncorrelated alpha.
We are so proud of what our community of contributing amatuer and professional analysts has built. To highlight their achievements we recently launched a live updating community statistics page which also gives a sneak peak at some of the actionable analytics features we’re currently building.
That said, we have a long way to go in fulfilling the promise of what Estimize can be. It’s my strong belief that crowdsourced structured financial data will completely usurp many critical financial data sets, historically gathered from only a handful of firms and individuals. The scale of the web and collaborative philosophies born here provide incredible opportunity to upend the closed and inefficient way things have been done in financial data for so long. There are so many more data sets to build, some of which we’ve already started on (economic estimates, m&a predictions).
We continue to look towards three companies that represent significant pieces of our strategy, values, and philosophy: Starmine, DataExplorers and StackExchange.
And we’re going to need (more) insanely talented people to take the next steps. We’re currently hiring for front end, back end, and full stack engineers, digital and enterprise marketing, and sales roles. You can find the full list here. We take team trips to Costa Rica to surf or Colorado to ski each year (not a joke), believe me you want to join this awesome group.
I feel exceptionally lucky every single day to work with such an amazing team. My goal is to be the dumbest, least competent person at this company in each of the various roles a startup founder must initially take, while empowering everyone else to fulfill the vision I’ve laid out.
Thanks so much for supporting this crazy experiment and being a part of the Estimize community, I can’t wait to show everyone the exciting stuff we’ve been working on, and for you to begin/continue paying us
Now someone please fetch the deck hand and tell him to bring me another pina colada.
Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see the Disclaimer page for a full disclaimer.
Will Automation Make Africa The Lost Continent
Posted by Leigh Drogen on January 4th, 2015 at 5:03 pm, Comments: 0
There’s a race taking place right now between economic development in Africa and automation. In my opinion this race will weigh heavily on whether or not Africa becomes the lost continent. The classical model of economic development goes something like this, and you can see it currently taking place in various stages throughout South East Asia. […]
My 2015 Stock Picks and Big Trends
Posted by Leigh Drogen on December 31st, 2014 at 5:08 pm, Comments: 0
Before we get into the 2015 picks, below are the 2012, 2013, and 2014 picks with their associated review posts. 2012 picks – 2012 review 2013 picks – 2013 review 2014 picks – 2014 review As always, a small caveat regarding my 10 stocks picks for the year. Nowhere outside of these yearly posts would I ever pick a […]
Is Israel In Danger of Being Destroyed?
Posted by Leigh Drogen on December 31st, 2014 at 12:03 am, Comments: 0
If you believed what you read in the global press you’d think that Israel was on the precipice of being wiped off the face of the earth. The drum beat of sensational alarmist press these past few years especially has been incredible to watch. I’ve been thinking about why that drum beat has become so loud. […]
Review Of My 2014 Picks and Trends
Posted by Leigh Drogen on December 28th, 2014 at 8:58 pm, Comments: 0
Ho-ly-bejesus, what a year. 2014 ranks up there with some of the hardest years ever for long/short equity traders (markets that go straight down are easy). There were land mines everywhere, a massive high beta meltdown for 2 months, the whole energy complex gets taken to the woodshed, the economy is on fire but traders […]
The Most Powerful 27 Year Old In Finance?
Posted by Leigh Drogen on July 3rd, 2014 at 9:49 pm, Comments: 0
According to someone at Business Insider I’m the most powerful 27 year old in the financial world, ok, I guess they had to give it to someone ¯\_(ツ)_/¯ The Most Powerful Person In Finance at Every Age – Business Insider By the way, a few notes and some background on that picture. The stats on there […]
You Won’t Believe What This Asshole Said About Yo
Posted by Leigh Drogen on June 24th, 2014 at 12:22 pm, Comments: 0
Unless you’ve been hiding under a rock this past week, you’re familiar with the Yo app and the cacophony of nonsense spewing forth from the internet since attempting to assign meaning to its meteoric rise (by the way that idiom makes no sense). Everything from, this is the inevitable result of technology being so cheap […]
Deltix Publishes Quant Strategy Using Estimize Data Producing 28.5% Cumulative Market Neutral Returns
Posted by Leigh Drogen on June 20th, 2014 at 6:50 pm, Comments: 0
At Estimize we love when research firms, academics, and financial infrastructure providers take our data and produce insightful research with it. We use some very orthogonal philosophies to collect our data at Estimize, and while we can attempt to explain how we do that all day, trust is really built by third parties validating its […]
Here’s Why Airbnb and Uber Should Completely Ignore Government Regulations
Posted by Leigh Drogen on June 13th, 2014 at 5:13 pm, Comments: 0
As the verticalized remnant labor/asset pool economy explodes (or whatever else you want to call what Airbnb and Uber do), fights over government regulation of these companies and the people who interact with them are increasing. I think it’s time to take a moment to discuss a rational perspective on how these companies, and those […]
Beware The False Promises Of Quant Nirvana Behind New Financial Products Like Kensho
Posted by Leigh Drogen on June 11th, 2014 at 9:26 pm, Comments: 0
I’m going to take a significant amount of heat for something that is rather controversial within the startup community. Many people believe that startup founders and investors should not comment on other companies, especially those remotely close to their space. I say that’s a coward’s way of looking at the startup world, and who better […]
Leigh Drogen is the founder and chief investment officer of Surfview Capital, LLC, a New York based investment management firm employing an intermediate term long/short momentum strategy. More »
- Estimize Raises Series B Led By WorldQuant Ventures
- Will Automation Make Africa The Lost Continent
- My 2015 Stock Picks and Big Trends
- Is Israel In Danger of Being Destroyed?
- Review Of My 2014 Picks and Trends
- The Most Powerful 27 Year Old In Finance?
- You Won’t Believe What This Asshole Said About Yo
- Deltix Publishes Quant Strategy Using Estimize Data Producing 28.5% Cumulative Market Neutral Returns
- Here’s Why Airbnb and Uber Should Completely Ignore Government Regulations
- Beware The False Promises Of Quant Nirvana Behind New Financial Products Like Kensho
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