PMSI supports Praetura Ventures’ investment in FeedStock
FeedStock, an AI-driven SaaS business that leverages the latest natural language processing technologies to enable financial services companies to meet both their compliance requirements and commercial goals, has secured a £2.5m investment in a funding round led by Praetura Ventures.
FeedStock is one of the first AI solutions to deliver value for clients on both the buy and sell-side of financial services institutions. The system streamlines compliance requirements, cost control measures and revenue generating activities by analysing communication streams within enterprises. The data generated gives businesses the edge to make smarter decisions and meet stringent regulatory requirements. Its leading product, Cortex, automatically scans emails and chat streams, as well as calendar events and research portals to ensure compliance with investment research regulations imposed by MiFID II, the landmark legislation introduced by the EU in 2018.
The recent growth in demand for FeedStock’s Cortex product is a demonstration of the buyside’s increasing efforts to adopt emerging AI technologies to streamline existing operations and unlock value in their data. Cortex is being used by some of the largest and most successful asset managers and hedge funds globally.
FeedStock was founded in 2015 and is run by co-founders and joint managing directors Charlie Henderson, a former corporate broker, and Lucas Wurfbain, who was previously a fund manager. The business is based in London’s Covent Garden and operates across multiple jurisdictions with clients in the US, Europe and UK.
The funding will enable FeedStock to accelerate the rollout of its products, expand the size of its team and extend into new markets. FeedStock is the third AI-focused business in Praetura Ventures’ portfolio, following investments in Peak and Futr.
As part of the deal, Mark Lyons, director at Praetura Ventures, will join the FeedStock board as a non-executive director.
PMSI worked closely with both Praetura Ventures and FeedStock in providing CDD support for the deal.