Funding Round attributes
Boosted.ai, a Toronto, Canada-based company specializing in artificial intelligence (AI) tools for investment managers, has secured $10 million in growth capital, as announced on August 15, 2024. The funding round was led by the CIBC Innovation Banking, a prominent growth equity firm in Canada, along with participation from Ten Coves Capital, an existing investor.
Founded in 2017, Boosted.ai offers advanced machine learning solutions aimed at empowering investment professionals to optimize their portfolio management processes. The company’s primary product, Boosted Insights, is a platform that enables portfolio managers, analysts, and traders to leverage AI to enhance their decision-making. Boosted Insights allows users to integrate AI into their workflow without requiring prior knowledge in coding or data science, making it accessible to investment teams of all sizes.
Boosted.ai's technology has gained traction in the financial industry, offering a competitive edge to asset managers by allowing them to use machine learning models to analyze and predict market trends, identify opportunities, and reduce risk. The company has built a reputation for developing innovative tools that improve decision-making and deliver AI-powered insights tailored specifically for the needs of investment professionals.
The recent $10 million investment will be utilized to further expand Boosted.ai's reach in the market and scale the development of its AI-driven platform. According to the company, the funds will also be directed toward expanding their sales and marketing teams to enhance their customer acquisition strategy, as well as driving further research and development in their machine learning algorithms. By improving the core capabilities of Boosted Insights, the company aims to offer even more sophisticated AI-powered solutions to investment managers, ensuring they stay at the forefront of technological innovation in the asset management industry.
Josh McFadyen, Managing Director at CBGF, expressed optimism about the partnership, highlighting the company's impressive growth and market potential. In the announcement, McFadyen stated, “Boosted.ai has established itself as a leading provider of AI-driven portfolio management solutions. We are thrilled to partner with them in this next phase of growth.” His comments underscore the confidence investors have in the potential of Boosted.ai to continue making significant strides in the investment management industry.
Boosted.ai’s CEO and co-founder, Joshua Pantony, also shared his enthusiasm about the new funding, stating, “We are excited to work with CBGF and our existing investors to accelerate our mission of bringing AI to the investment management industry.” Pantony emphasized the company's commitment to expanding its product capabilities and solidifying its position as a leader in the growing AI-driven investment solutions market.
With the latest investment, Boosted.ai is well-positioned to capitalize on the increasing demand for AI and machine learning tools within the financial sector. The firm plans to focus on scaling its operations and continuing to offer cutting-edge solutions that provide significant value to investment professionals.
This growth capital marks another milestone for Boosted.ai as it continues to innovate and expand its product offerings in a competitive financial technology landscape. The company's focus on AI-driven investment tools reflects a broader industry trend toward the integration of advanced technologies in finance, as firms look for ways to enhance their performance and streamline their decision-making processes.
