The Israeli flag. Photo: Wikimedia Commons.

CTech – Israeli fintech company TipRanks announced on Thursday the completion of an investment round of $77 million led by Prytek and More Investment House.

Founded in 2012 by Uri Gruenbaum and Gilad Gat, TipRanks provides a simplified stock research platform that makes alternative datasets accessible and visual for retail investors. Using Natural Language Processing it tracks and measures the performance of over 7,000 professional analysts and enables investors to see their track record and evaluate their advice.

“In addition to being the only company that ranks analysts based on their performance rather than the prestige of the bank they work for, we are the only company that makes aggregated analyst ratings available to retail investors,” said CEO Gruenbaum. “This gives investors access to information that would otherwise cost tens of thousands of dollars each year.

“We have leveraged our popularity and strong tech capabilities to launch more tools and datasets. This has given the average Joe and Jane access to the same data as the biggest asset managers. We analyze all finance-related news, corporate filings, analyst research and social media to provide retail investors with the same level of information that only institutional investors can afford. By doing so we enable retail investors to make data-driven investment decisions.”

This investment round comes on the back of an outstanding year for the company in which it saw subscription sales grow by 300 percent. The company currently has over four million monthly users. It also has an enterprise solution used by numerous financial institutions including Nasdaq, E*TRADE, TD Ameritrade, eToro, Bank Santander and others that have integrated TipRanks’ research tools onto their platforms.

“There has never been a more important time in capital markets history to provide transparency to individual investors,” added Gruenbaum. “We have all seen how responsive investors are to trends on social media. Today, all you need to become a ‘Financial Expert’ influencer is an email address. Our platform helps millions of investors evaluate ideas and make data-driven decisions. We plan to use the new funding to create and acquire more exclusive datasets that will give retail investors a real edge. We will also expand our coverage to other asset classes and markets.”

TipRanks is expected to more than double its current headcount of 60 employees following the latest round.

The investment round was led by multinational technology corporation Prytek. Prytek invests in and builds technologies (with a portfolio of over 50 technologies and solutions), which it delivers to the market through its own managed-service divisions and operating platforms.