Quantopian, a US-based investment algorithm platform provider backed by trading firm Getco, attracted $25m on Monday in a series C round led by venture capital firm Andreessen Horowitz.
VC firms Bessemer Venture Partners, Khosla Ventures and Spark Capital also contributed to the round along with Point72 Ventures, the VC arm of family office Point72 Asset Management.
Quantopian provides data, capital, education tools and infrastructure to enable customers such as finance professionals, scientists and students to develop investment algorithms. The company licenses promising algorithms and pays authors based on their algorithms’ performance.
The series C capital will go towards further platform development and the acquisition of additional data as the company looks to expand a user base that totals more than 100,000.
Part of the funding will support the development of an investment management infrastructure. Quantopian hopes to offer wealth management for external investors early next year.
Quantopian has now secured $48.8m in total funding, according to its latest press release, with VC firm Wicklow Capital also among its shareholders. Getco took part in a $2.1m seed round in 2012 alongside Spark Capital.