Central Bank Sentiment Company Prattle Announces $3.3 Million Funding Round

Gauging investor sentiment has become a trend for investment professionals and traders to capitalize on ever since the rise of social media began affecting markets. Prattle, a provider of sentiment data solutions for research analysts and traders, has recently announcing a $3.3 million seed round of financing led by partners of GCM Grosvenor.

"Our mission is to deliver world-class technology and tools that give finance professionals a comprehensive, unbiased, quantitative measure of market-moving language," said Evan Schnidman, CEO of Prattle.

How It Works

The company uses natural language processing, sentiment analysis and machine learning to quantify the relationship between language and the market. The solution provides data delivered in real time, enabling finance professionals to build data-driven trading strategies. Prattle's patent-pending methodology algorithmically generates data designed to predict the market impact of central bank and corporate communications.

"Text analytics, machine learning and artificial intelligence will all become important prerequisites for any thorough, high caliber investment research. Prattle's cutting-edge sentiment analysis has enormous potential to provide this capability to asset managers on a cost effective, outsourced basis," said Michael Sacks, CEO of GCM Grosvenor.

Prattle's technology looks to change the way traders and analysts consume financial information.

Now that society is inundated with data in the digital age, being able to synthesize it and make it actionable is more important than ever before. Prattle looks to make this possible with its new technology.