TipRanks

Founded in 2012 by CEO Uri Grünbaum and Gilad Ghat, TipRanks is the developer of a platform for stock performance analysis, providing retail investors with the functionality to make investment forecasts. The TipRanks employs 60 employees, most of whom are in Tel Aviv (by April 2021).

History

2021: Raising $77 million, including from Prytek

In mid-April 2021, the Israeli fintech company TipRanks announced the completion of a funding round in which it raised $77 million. The investment round was led by the Prytek and More Investment House Foundation, founded by Technonicol co-owner Igor Rybakov.

Thanks to the investment, the company plans to double its staff and open offices in New York.

TipRanks launched its financial reporting system in 2013 to ensure transparency of online investment advice. Using natural language processing, the system tracks and measures the performance of more than 7,000 professional analysts and allows investors to see their track record and evaluate their advice. The TipRanks service was adopted on Wall Street to compile an analyst rating and is used by most banks.

Co-founder of the Prytek Foundation Igor Rybakov

In addition to being the only company that evaluates analysts based on their results rather than the prestige of the bank in which they operate, we are the only company that makes aggregate analyst ratings available to retail investors. This provides investors with access to information that would otherwise cost them tens of thousands of dollars every year, "said TipRanks CEO.

In 2020, in TipRanks, subscription sales grew by 300%, and the number of users per month exceeds 4 million people. The company also offers corporate solutions used by numerous financial institutions, including Nasdaq, E * TRADE, TD Ameritrade, eToro, Bank Santander and others, which have integrated TipRanks research tools into their platforms.^[1]

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