Click here to close now.




















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
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
"Alert Logic is a managed security service provider that basically deploys technologies, but we support those technologies with the people and process behind it," stated Stephen Coty, Chief Security Evangelist at Alert Logic, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
"ProfitBricks was founded in 2010 and we are the painless cloud - and we are also the Infrastructure as a Service 2.0 company," noted Achim Weiss, Chief Executive Officer and Co-Founder of ProfitBricks, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
"We specialize in testing. DevOps is all about continuous delivery and accelerating the delivery pipeline and there is no continuous delivery without testing," noted Marc Hornbeek, Sr. Solutions Architect at Spirent Communications, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit f...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
"We have been in business for 21 years and have been building many enterprise solutions, all IT plumbing - server, storage, interconnects," stated Alex Gorbachev, President of Intelligent Systems Services, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.