Sibli, a startup using AI to help asset managers in the investment research process, has raised $4.5 million in seed funding.
The round was led by Staircase Ventures, with participation by The Group Ventures, Burst Capital, MaRS IAF, and private investors.
Founded by a team of AI and finance experts, Sibli - which has rebranded from Responsibi - uses generative AI and large language models to process vast amounts of unstructured data and find relevant insights that help asset managers gain an information advantage over their peers.
The company says it has attracted the attention of buy and sell side investment professionals and is experiencing strong annual recurring revenue growth.
The new funding will be used acquire talent, expanded access to new data sets, and boosted computing power.
Alik Sokolov, CEO, Sibli, says: "Investment research is set to be transformed by current advancements in Generative AI.
"We have helped some of the most sophisticated investors in the world solve practical challenges with tangible benefits: with some even launching novel strategies only made possible through Generative AI and our technology."