Street Contxt secures US $4.4M follow-on financing

Street Contxt has closed a US $4.4 million new round of financing led by existing investor Joe Lonsdale of 8VC, and including an investment by Point72 Ventures/Joint72 Asset Management. Other investors include Palm Drive Capital, a New York based VC firm that helps build strategic relationships in the Greater China Region, Portag3 Ventures LP and other investors.

Street Contxt said additional institutional participants in the consortium will be announced over the coming months.

The new financing brings total funding raised to date to US $15 million. In January 2016, Street Contxt secured US $8M Series A led by Formation 8 with participation from iNovia Capital.

LaBarge Weinstein LLP acted as legal counsel to Street Contxt.

Toronto based Street Contxt enables sell side brokerages, independent research firms and institutional investors to efficiently distribute and manage all forms of content and analysis, including formal research, macro commentary, and content distributed from the sales and trading desk.

“The explosion of thought leadership and analysis available from sell side and independent firms across the content spectrum and asset classes, coupled with the looming implementation of MiFID II, has presented the investment community with unprecedented challenges that Street Contxt’s platform is uniquely suited to address,” said Blair Livingston, Street Contxt CEO. “With users in almost every major financial hub around the world, we’re excited to welcome Point72 and our other new partners as we continue to build out our global platform.”

“Street Contxt makes it easy for buy side firms to manage their institutional knowledge, maintain total control over what they receive, accurately assess broker value add for commission allocations, and ultimately make more impactful investment decisions,” said Joe Lonsdale, Founding Partner at 8VC. “The asset management industry is currently undergoing immense change, and Street Contxt’s data-driven networks increase transparency and help both brokers and asset managers focus on the analysis that is both most valuable and relevant to traders and the functioning of the markets.”

photo credit: Street Contxt

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.