January 12th, 2022

Boosted.ai Raises $35 Million in Series B Funding

Written By: Joshua Pantony

The world’s asset managers have never been as focused as they are today on bringing AI to their investment processes, but the technology remains in its infancy. Boosted.ai is helping firms that span all levels of machine learning capabilities – from those that have never used AI to sophisticated quants, we’re proud of how Boosted Insights has driven AI value for all sorts of investment managers.

We have spent the past five years building Boosted Insights to solve for the gap of time, money and talent, in a way that is understandable and explainable to all styles of portfolio managers and allocators. Today, we are proud to announce a $35 million USD Series B funding round that will allow Boosted.ai to further expand our explainable machine learning platform for institutional investors globally.

Co-founded in 2017 by Jon Dorando, Nicholas Abe, and myself, Boosted.ai has helped asset managers excel through machine learning. Our all-in-one artificial intelligence platform Boosted Insights is built on the years of expertise of our team in the fields of data science, machine learning, and finance, which makes it all-encompassing and extremely agile. 

This latest round of funding – led by Ten Coves Capital and Spark Capital, with participation from Royal Bank of Canada (RBC) and HarbourVest Partners joining our prior investor Portage Ventures brings our total funding to $46 million. Their investment shows that incorporating machine learning into investment management is top of mind for financial institutions.

Boosted.ai currently has more than 40 active clients across a full spectrum of global asset managers, including hedge funds and ETF providers. RBC, an investor in the round, is a current client of Boosted.ai. In terms of size, Boosted.ai clients range from family offices with roughly $10 million USD in assets under management (AUM) to asset managers with over $1 trillion USD in AUM. 

Our success is all about our people and their relentless dedication to being world-class. In addition to our investors, we of course wouldn’t be where we are today without our incredible team. From executing on our collective vision to building Boosted.ai into the world-leading distributed machine learning platform for institutional investors, this is a very exciting time!

We look forward to sharing our journey with you as we build further on the promise of delivering world-class explainable machine learning tools for investment professionals. 

Thank you for being a part of our success story.

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