Welcome!

News Feed Item

Kensho Secures $10 Million in Seed Financing for 'Warren,' an Intelligent Market Research Assistant That Can Answer Complex Financial Questions Posed in Natural Language

General Catalyst, NEA, Accel Partners, Google Ventures, Devonshire/Fidelity Investments, and Other VCs Participate

NEW YORK, Jan. 22, 2014 /PRNewswire/ -- Kensho, a pioneer in cloud-based intelligent computer systems capable of answering complex financial and market research questions posed in natural language, today announced that it has secured $10 million in seed funding. Investors from General Catalyst, NEA, Accel Partners, Google Ventures, Devonshire Investors (the private equity arm affiliated with Fidelity Investments), and other VCs participated.  'Warren,' the company's groundbreaking virtual market research assistant, is currently being tested by a select set of asset managers and research teams.

(Photo: http://photos.prnewswire.com/prnh/20140122/NE50548)  

Kensho designed Warren to shorten traditional investment research cycles from days to minutes. The system was built by several veteran software engineers from Google Inc. and Apple Inc., including one of the original engineers on the first iPhone team. Warren can currently answer a million distinct types of natural language questions about the impact of global events on asset prices, such as, "What happens to the share prices of energy companies when oil trades above $100 a barrel and political unrest has recently occurred in the Middle East?" According to Kensho CTO Pete Kruskall and Kensho Lead Engineer Nicolai Krakowiak, both former Google software engineers, Warren will be able to answer 100 million distinct types of complex financial questions by the end of 2014.  

Daniel Nadler, CEO of Kensho, commented: "If you look at what Apple is doing with 'Siri,' what IBM is doing with 'Watson,' and what Google is doing with 'Now,' it is clear that the most powerful technology companies are investing immense resources to make virtual intelligent assistants ubiquitous before the end of the decade. Until now, we haven't seen systems optimized for finance—one of the largest industries in the world. Kensho is dedicated to the idea that communicating in natural language with intelligent computer systems which serve as virtual personal assistants will form the leading edge of global innovation over the next half-decade, and will transform not just the consumer space, but industries from medicine and finance to energy and defense as well. We are delighted to receive continued support from so many premier venture capital firms and investors, and this funding will significantly expand our capacity to support a growing number of the best and most experienced engineers in the world in their development of Warren."

Warren currently can answer a million distinct types of natural language questions about the impact of global events on asset prices, such as:

  • "What happens to the share prices of energy companies when oil trades above $100 a barrel and political unrest has recently occurred in the Middle East?"
  • "What happens to Samsung, the South Korean stock market, and U.S. defense stocks in the 48 hours following North Korean nuclear tests and long range missile launches?"
  • "What happens to Home Depot, home builder stocks, and cement company share prices following Category 4 hurricane landfalls in the continental U.S.?"
  • "How do credit card company stocks react after the discovery of major credit card breaches?"

In order to build Warren, Kensho created one of the largest unstructured geopolitical and natural world event databases in the civilian arena. Dr. James Shinn, the former National Intelligence Officer for Asia at the Central Intelligence Agency and the former Assistant Secretary for Asia in the U.S. Department of Defense, has joined Kensho's Advisory Board and will help guide the company in this unprecedented effort outside the intelligence community.

Dr. Shinn said, "Event-driven statistical analysis is a remarkably powerful lens through which to understand the world. The effects of geopolitical events on assets—such as oil prices, currencies, and foreign and domestic equity volatility—is one of the least understood areas and, without technology, is one of the hardest, human-labor intensive, and costliest things to measure, despite clearly having massive effects on these markets." 

David Jegen, Managing Director at Devonshire Investors, the private equity arm affiliated with Fidelity Investments, added, "Active asset management requires constant innovation to stay ahead, and we are just beginning to see how technology will transform existing approaches. Kensho is at the forefront of bringing next-generation technology to help portfolio managers outperform, and we are proud to be part of their team. Since its earliest iterations, Kensho's software has been adding valuable improvements to the research and portfolio management processes."

"The enterprise financial technology built by the industry's legacy players has not kept up with consumer technology—$500 smartphones are more powerful and easier to use than the 30 year-old technologies for which financial institutions currently pay billions of dollars a year," said Stanley Young, former CEO of Bloomberg Enterprise, and Kensho Advisory Board member. "But the next wave of financial technology innovations, built by firms such as Kensho—using ultra-modern software paradigms and secure cloud computing—will bring the accessibility of consumer technology to the enterprise, and put high-end computational capabilities in the hands of non-programmers. Millions of hours now wasted on spreadsheet manipulations will be saved, and the high-priced professionals currently mired in those tasks will be freed to dive straight into the high-value endeavor of asking important questions and finding needed answers."

Kensho has a long-standing technology partnership with NASDAQ OMX, and Warren is the first professional-grade financial research and analytics platform built completely on NASDAQ OMX FinQloud, a secure cloud computing platform designed exclusively for the financial services sector. 

In honor of the funding announcement, as well as Kensho's deep relationship with NASDAQ OMX FinQloud, Kensho, Inc. will visit the NASDAQ MarketSite in Times Square to ring the Closing Bell today.

About Kensho

Kensho is bringing the intelligent assistant revolution to finance with user-friendly interactive research environments that combine cloud computing with graphical user interfaces and natural language querying capabilities, allowing financial professionals to perform sophisticated empirical analyses in a fraction of the time spent by institutional research teams today, and without writing code. The Kensho team is made up of world-class software engineers who came to Kensho from Google Inc. and Apple Inc. (including one of the original engineers on the first iPhone team), as well as Wall Street veterans, PhD physicists, and economists.  

For more information please visit: www.kensho.com

Kensho Contact:

Ian Brady
[email protected]
857-600-2657

SOURCE Kensho

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...