If you're an investor or financial analyst, chances are you encounter
a lot of unstructured information while evaluating potential
investments or companies. Unstructured information in the form of
tweets, notes, links to articles, reports and comments.
is a startup that aims to organize that information in a single place and help users in the process.
The company just closed on a $1.5 million financing round to execute on that vision.
In testing out the service, I found it easy to sign up for and begin using, as it provides a good on-boarding tour, showing users how the system works.
Evernote, only purpose-build for the financial sector, with
user-defined tag categories on the left and a full text editor on the
right of the screen.
In fact, the system specifically allows users to import their Evernote data and collaborate/share with team members.
Data services bring in stock quotes for publicly traded companies as well, and pre-defined templates are also provided.
I talked with Bipsync's founder and CEO Danny Donado to get a sense of
where they see themselves in the market space (edited for space):
VentureDeal: What is the market space you are operating in?
Donado: This is really about knowledge management - managing the investing process for unstructured information.
VentureDeal: Where is Bipsync in its development?
We currently have 5 reference customers and believe we have early
product/market fit. One of those customers, Steadfast Financial, became a
significant investor in this funding round after using the service.
VentureDeal: What does Bipsync want to be for users?
Donado: We want to be the "2nd screen" that investors and analysts use to pull together all of their unstructured information.
VentureDeal: What is your go-to-market model?
We're feeling it out a bit and know we can make the direct sales model
work. But we want to first try the lower-touch, online model. We've
built a consumer friendly, intuitive service.
VentureDeal: How are you using the proceeds from this $1.5 million financing?
Donado: We are focused on customer success and hiring additional account managers, while continuing to build out functionality.
VentureDeal: What are your expansion plans?
We are currently New York-based and focused, since there is a large
existing market of financial service opportunities here. Our development
team is actually based in the UK, so we have obvious expansion
possibilities there the future.
Individual investors and small
teams up to 3 in size can sign up to use the company's free open beta
service, which has no time limit.
Pricing for 5 user teams starts
at $2,000 per month and includes unlimited uploads, SLA support,
compliance reports, in-person training and configurable content fields.