Financial news and data site Benzinga has picked up $3m in a new funding round from WorldQuant Ventures.
The company is based in Southfield, Michigan and splits its operation between financial news covering the US equity market and the data analysis providing corporate and economic data.
Steven Lau, managing director of WorldQuant Ventures said, “The world of finance needs a voice focused on delivering valuable insight to its clients as well as highly actionable data sets at incredible speed, and Benzinga’s consistent ability to do exactly that presented a great investment opportunity for WorldQuant Ventures.”
Benzinga says it will use the capital to expand the infrastructure supporting its content and data services.
The financing will also go towards expanding its teams in Detroit and New York by hiring sales and editorial staff, as well as developers and data scientists.
Benzinga CEO Jason Raznick said, “People don’t always think about it, but Detroit is a financial and technological powerhouse that can lead the way in everything from driverless cars to fintech.”
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