New York — TipRanks, a financial accountability website, recently closed Round A with $3 million. Among the backers is former New York State Governor Eliot Spitzer, who earned his nickname the “Sheriff of Wall Street” for going after corrupt financiers when he was New York State’s Attorney General. Other investors include Cornell professor, Roni Michaely, and Angel investor, John Nakamura.
TipRanks was founded in June of 2012 with $700,000 seed money by Uri Gruenbaum, CEO, and Gilad Gad, CTO, as a resource for investors after realizing that there is not enough public information available regarding the track records of experts providing financial advice online, therefore investors do not know whose advice to trust.
Initially available as a “financial firewall” (an extension form which was automatically activated on a user’s screen whenever they read an article with a rating call in top financial publications), TipRanks quickly grew to include a standalone website, ranking over 6,500 analysts and bloggers based on their success rate of financial advice, average return, and consistency.
TipRanks uses machine learning and natural language processing algorithms (NLP) to analyze the internet and measure the performance of anyone giving investment advice online on leading financial blogs and websites.
TipRanks’ opened beta version ( www.tipranks.com) provides users with the capabilities to:
See the track record of anyone publishing investment advice including more than 3,100 sell side analysts and more than 3,500 prominent financial bloggers
Read more: http://www.benzinga.com/startups/14/07/4719629/eliot-spitzer-invests-in-financial-expert-accountability-company#ixzz38ER3EtaJ