John Fawcett, Quantopian
Boston - Quantopian has raised $25 million in a Series C financing round led by the venture capital firm Andreessen Horowitz.
The company, which offers a free online platform for education and creation of institutional-quality investment algorithms, will use the funds to continue expansion, including improved platform tools, education materials, and the acquisition of additional data for use by its more than 100,000 members. The funding also will facilitate the buildout of Quantopian's investment management infrastructure as it prepares to manage money for external investors in early 2017.
The Series C round also includes additional investments from earlier investors Bessemer Venture Partners, Steve Cohen's Point72 Ventures, Khosla Ventures, and Spark Capital. The latest round follows earlier rounds totaling $23.8 million.
John Fawcett, Founder and CEO of Quantopian said: "The team at Andreessen Horowitz shares our vision that technology can dramatically change how we approach investing. With our platform and tools, millions of people can have access to information and education once available only to a small number of people. "
Alex Rampell, a General Partner with Andreessen Horowitz, is joining Quantopian's Board of Directors.
The latest round of investment funding comes as membership in the Quantopian community recently passed 100,000 members.