Altada Technology Solutions, a provider of artificial intelligence (AI) solutions supporting improved data-driven decision making in the asset management community, is expanding on a global basis with the addition of a London office. Through 2021, the company has added offices in New York, San Francisco, Malta, Dublin and Barcelona.
Altada was founded in 2018 in Cork, Ireland with a view to ensuring the ethical and responsible use of AI. Its financial services solutions cover investment and portfolio management, and are built on technology that allows firms to analyse key variables in a fast and accurate way, and provide sentiment and valuation analyses that help decision makers efficiently allocate investments.
By way of example, Altada’s Pyrite solution uses the company’s proprietary AI modelling and machine learning to generate above-market returns by providing insights into portfolio assessment, risk and valuation. The AI-driven platform and accompanying data integrity processes also allow the ingestion of high volumes of documents quickly and accurately, allowing users to optimise due diligence.
Altada’s London office, its first in the UK, is a step in its business growth strategy. Allan Beechinor, Altada co-founder and CEO, comments: “The UK has a robust technology ecosystem, strong drive for innovation and a diverse talent pool in addition to being home to financial services firms that are actively looking to deploy AI solutions that can drive business results.”
The company’s arrival in the UK follows a successful $11.5 million funding round led by Rocktop Partners alongside Elkstone Partners and Enterprise Ireland. As well as extending its office network, Altada has started a global recruiting campaign in the areas of quantum computing, engineering, data science, product development, blockchain engineering, and cloud platform management. It intends to add at least another 100 jobs next year across offices and has plans to expand further in the US and the APAC region in the near future.
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