Gridstone Research, a financial information and search company, today announced the closing of series B funding of $10 million. The investment was led by Helion Venture Partners with existing investors Charles River Ventures and Maverick Capital also participating in the second round.Gridstone sells a research platform for financial analysts that combine deep financial data and powerful search technology. The funds raised will be used in further product development and expand the sales force."This gives us the fuel to continue on our mission of making company research easier and a lot more productive," said Basab Pradhan, CEO, Gridstone Research."We think analysts who research public companies today are having to attack the information overload problem with toothpicks instead of powertools. There is a better way using search and semantic technologies. Our research platform is just such a powertool." 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 clients."Gridstone Research is one of the most promising vertical search companies out there," said Ashish Gupta, managing director, Helion Ventures. "By applying search and related technologies to the area of finance and company research, Gridstone has created a powerful value proposition for investment managers. We are delighted to be leading this round and to be part of their mission."
