Sibli secures US $4.5M seed financing

CPE News

CPE News (2.13.2024) – Sibli, formerly Responsibi, has raised US $4.5 million in seed funding led by Staircase Ventures with participation of The Group Ventures, Burst Capital, MaRS IAF, and private investors.

Janet Bannister from Staircase Ventures joined Sibli board of directors.

Founded by Alik Sokolov, Joseph Hydoski and Vova Golubin, Toronto based Sibli is transforming the investment research process using AI. The Sibli technology leverages the latest advancements in NLP and generative AI to process vast amounts of unstructured data, find relevant insights, and deliver them for use by fundamental and quantitative asset managers.

photo credit: Sibli

News Release

Sibli Closes $4.5M Seed Round Led by Staircase Ventures

Funding Advances AI-Powered Decision-Making in the Asset Management Sector

TORONTO, ON February 13, 2024 – Sibli (formerly Responsibi), a company transforming the investment research process using AI, announced today it has closed a $4.5M US Seed round led by Staircase Ventures, a firm overseen by high-tech pioneer Janet Bannister (eBay, Kijiji). The deal included participation by The Group Ventures, Burst Capital, MaRS IAF, and private investors. The company also announced a rebrand to better align with its broader perspectives and vision.

Founded by a team of AI and finance experts, Sibli’s unique IP, built using cutting-edge generative AI and leveraging large language models (LLMs), allows asset managers to gain an information advantage over their peers, transforming their investment research processes and improving performance.

The asset management industry today spends countless hours on reading and modelling. Sibli transitions these largely manual tasks, which previously eluded automation, towards powerful algorithms. This allows investors to make more informed decisions faster and focus their valuable resources on ideation.

“Investment research is set to be transformed by current advancements in Generative AI,” says Alik Sokolov, Co-founder and CEO of Sibli. “We have helped some of the most sophisticated investors in the world solve practical challenges with tangible benefits: with some even launching novel strategies only made possible through Generative AI and our technology. As we help our clients re-imagine their investment process, we see a future where the day-to-day responsibilities of the investment analyst are completely transformed, allowing them to transition from low-level research towards high-value cognitive and social tasks.”

Since its founding in 2021, Sibli has attracted the attention of buy and sell side investment professionals and is experiencing strong annual recurring revenue (ARR) growth. Today’s financing will accelerate the company’s growth and the development of its technology with the help of top-tier talent, expanded access to new data sets, and boosted computing power.

Janet Bannister, Founder & Managing Partner at Staircase Ventures said, “We are bullish about the potential of AI to transform many sectors, including asset management and finance. We chose to back Sibli due to the strength of its technology, customer traction, and team. The founders have displayed strong leadership, deep market understanding, and outstanding technical skills. Alik and the team’s clarity of vision on how to win in the investment vertical is impressive.”

For media inquiries contact: vova@sibli.ai

About Sibli

The Sibli technology leverages the latest advancements in NLP and generative AI to process vast amounts of unstructured data, find relevant insights, and deliver them for use by fundamental and quantitative asset managers. By using the technology, institutional investors are able to secure an information advantage and improve their decision making, resulting in improved efficiency and performance. Rooted in academia, the technology has been meticulously crafted for the specific challenges of investment research and is used by top tier asset managers, including several in the Maple 8.

About Staircase Ventures

Staircase Ventures invests in the next generation of great Canadian tech companies, providing the first institutional capital into high potential, B2B software companies. Staircase offers a 5-pillar Founder Development Platform, a first-of-its-kind offering to accelerate founders’ development and help them perform at their best. In addition, each founder that Staircase backs receives carry in the Fund, to foster mutual support and alignment amongst the portfolio. The team includes 8 Advisors who have launched and built $1B+ companies and who are committed to sharing their learnings and networks with portfolio companies. Founder and Managing Partner Janet Bannister has a decade of experience investing in, and working alongside, early-stage tech companies, as well as a strong entrepreneurial and operating track record.