Gridstone raises $10 Mn
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Bangalore: The financial Information and search company Gridstone Research has announced the closing of a Series B funding of $10 million. The funds raised will be used for further product development and for the expansion of sales force. The investment was led by Helion Venture Partners along with existing investors Charles River Ventures and Maverick Capital. Gridstone Research, which sells a research platform for financial analysts that combines financial data and search technology, was started by Basab Pradhan, who was earlier with Infosys Technologies. "This gives us the fuel to continue on our mission of making company research easier," said Basab Pradhan, CEO, Gridstone Research. "We think that analysts who research public companies today are having to attack the information overload with toothpicks instead of power-tools. There is a better way, using search and semantic technologies. Our research platform is just such a power-tool," he added. The company sells its research platform to buy-side investment managers. It already has several leading funds like Alliance Bernstein, Oppenheimer Funds and Nomura Asset Management as its clients.

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