By Zoe Schiff
Toronto-based Street Contxt, which delivers highly targeted real-time information designed to enhance communication between capital markets professionals, is gearing up for launch next month, hot on the heels of its US$8 million series A funding round secured in December.
The latest funding round – supported by the likes of Formation 8 and iNovia – follows an earlier $2.5 million seed round that brought in a slew of executive investors from major financial institutions, among them UBS, Wells Fargo, Pimco, J.P. Morgan, and Barclays, as well as big name investors like Howard Edelstein and Alfred Eskender.
Street Contxt’s platform enables business professionals to analyze clients’ engagement with their content – and make adjustments where necessary. The content distributed by firms can be observed through real-time alerts when colleagues interact with relevant accounts. Brokers receive results from their clients’ engagement emails with links, tickers, and sectors. In this manner, brokers can generate new distribution channels, which can lead to more trading activity—and, in this scenario of slippery slopes, perhaps higher commission revenues.
In understanding trends in individual client interests through trading and banking activity, it is easier to service them. Street Contxt provides a means to engage with clients more clearly and in a more targeted way.
The latest funding round brings Street Contxt’s total venture funding to just over US$10.6 million. The funds will support Street Contxt as it emerges into the market, expected in February.
“Our goal for this round was to support our go-to-market strategy,” says Blair Livingston, CEO of Street Contxt. “Up until now, we have been somewhat quiet as we have finalized the technology behind Street Contxt. We are now confident in the platform and excited to bring it to market.”