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Boosted.ai Raises USD35m in Series B led by Ten Coves Capital

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Boosted.ai, a distributed machine learning platform for global investment professionals, has closed a USD35 million Series B financing round, led by Ten Coves Capital and Spark Capital.

Portage Ventures, Royal Bank of Canada (RBC) and HarbourVest Partners also participated in the round. Inclusive of seed capital, Boosted.ai’s total funding now stands at USD46 million.

The funding will be used to scale Boosted Insights, the company’s web-based platform that brings explainable machine learning tools to investment managers. By using Boosted Insights, portfolio management teams can augment their existing investment processes, source new ideas and manage risks through AI without any prior coding knowledge.

In conjunction with the funding round, Dan Kittredge from Ten Coves Capital and Santo Politi from Spark Capital have joined Boosted.ai’s Board of Directors.

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