OpenBB Raises $8.5M in Seed Round Funding Following Open Source Project Gamestonk Terminal's Success
DELAWARE CITY, Del., March 29, 2022 (Newswire.com) - Following the success of their open source project, Gamestonk Terminal, the founding team composed of Didier Lopes, James Maslek and Artem Veremey is launching a new company: OpenBB.
OpenBB is partnering with OSS Capital to build world-class investment research products. OSS Capital is leading the seed round alongside Naval Ravikant, Ram Shriram and Elad Gil, closing the round at $8.5 Million.
"The investment research industry has been dominated by monopolistic and proprietary incumbents since the 1980s, and it has taken until now for someone to develop an open source, democratized platform for the current and next generation of market makers, traders and equities professionals. OpenBB is the right idea at the right time, focused on empowering investors to gain access to the world's financial research at the click of a button, all for free and powered by an open source platform. We are honored and thrilled to be on the ground floor of this paradigm-shifting moment in the history of investment research." - Joseph Jacks, OSS Capital Founder and GP
Since the initial launch of the project last year, Gamestonk Terminal has gone viral on Hacker News and Reddit, been featured in Vice magazine and is currently the #1 open source investment research platform on GitHub by stars, having over 9,200.
The OpenBB founders will set the company direction, focusing on the community, to keep building the best open source investment research platform. To reflect the new company, 'Gamestonk Terminal' will be rebranded to 'OpenBB Terminal'.
"As a Software Developer and an AI/ML enthusiast, I decided to leverage modern data science tools to help me make sense out of investing. What started as a personal project of mine has turned into a platform used by thousands of people around the world," said Didier Lopes, OpenBB CEO and co-founder. "With this seed investment, our ability to support the ever-growing community will improve significantly. We're opening a new chapter in our journey to create a modern investment research platform for everyone."
OpenBB is a leading open source investment analysis company. It represents millions of investors who want to leverage state-of-the-art data science and machine learning technologies to make sense of raw unrefined data. Its mission is to make investment research effective, powerful and accessible to everyone. OpenBB currently has several new opportunities, which can be found on their website here.
OpenBB Terminal is a highly-customizable, open source investment platform. The product being open source allows for higher quality, lower costs and complete transparency. The terminal is written in Python, the fastest growing language in the world of finance, data science and countless others. This is the first time in history that users, regardless of their background, can easily add features to an investment platform and tailor it to their needs.
For more information contact hello@openbb.co.
Source: OpenBB
