InvestiQuant, which recently changed its name from Master the Gap and is led by the original founder of SciQuest, has acquired another market research firm. It’s also raised another $1.5 million in funding.
On Wednesday, InvestiQuant CEO Scott Andrews announced the acquisition of Overnight Edges, a provider of overnight trading information.
InvestiQuant provides investment information to what the company calls “self-directed investors.”
Subscribers are among the investors who have poured another $1.5 million into the venture.
“For the first time, the self-directed investment community will be able to access institutional-quality research and ‘around-the-clock’ quantified trading edges,” Andrews said of the combined company.
Rob Hanna is the founder and CEO of Overnight Edges. He and Andrews will unveil a service combining the offerings of both companies on March 1. Hanna will serve as vice president of research. The two have known each other for several years, having appeared as guest speakers an investor invents.
Earlier this month, Andrews changed the name of Master The Gap to InvestiQuant and announced the new funding.
“The funding will be used to build the company’s new website and technology infrastructure, and to create a single destination for active investors and traders interested in quantitative trading research, education, and tools for short-term strategies,” the company said.
InvestiQuant will offer a subscription-based service that it says will offer “actionable, on-demand research focused on short-term strategies for better trading stocks, ETFs [exchange traded funds], futures, and commodities.”
“Since the financial meltdown of 2008, self-directed investors have moved increasingly to shorter time-frame investment strategies to reduce their risk and increase their returns,” Andrew said. “But many have struggled with the biggest pitfall of short-term trading: sub-optimal, emotionally based decisions resulting from the subjective and unreliable nature of interpreting visual price charts. By providing concrete historical data, InvestiQuant will enable active investors to overcome these challenging discretionary elements and help them to trade smarter, with less emotion, more confidence, and more consistency.”