Eagle Alpha and Exabel team up to simplify evaluation of alternative data
Exabel, the alternative data analytics platform for investment teams, and Eagle Alpha, the leading alternative data aggregation platform and advisor, are excited to announce their new strategic partnership. The collaboration will enable both companies’ investment clients to evaluate multiple new alternative datasets simply and swiftly, removing one of the major pain points experienced by users of alternative data today.
One of the biggest challenges for buy-side consumers of alternative data is how to evaluate new data in a reliable, timely and efficient manner. Traditionally this is a time and resource intensive step which limits how effectively investment teams can land value from alternative data.
Exabel is an end-to-end software platform designed to help an investment team use alternative data in its investment workflow. Pre-integrated ‘ground truth’ data, combined with data import/export integrations, and an intuitive user interface for signal transformation and modelling enables investment teams to rapidly assess potential alternative data sources and signals for potency, relevance and insight. Exabel’s integrated suite of investment research and analysis modules enables clients to work collaboratively across teams and functions, improving efficiency in idea generation, signal combination, modelling, testing and deploying to production.
Established in 2012, Eagle Alpha is the pioneer connecting the universe of alternative data. The company is the leading alternative data aggregation platform with supporting advisory services for data buyers and data vendors.
The partnership will enable investment teams to utilise the Exabel Platform to efficiently explore and test an array of sample alternative data pre-loaded into the platform by Eagle Alpha from their extensive data catalogue. Leveraging Eagle Alpha’s knowledge of the alternative data marketplace and existing data trial agreements will significantly streamline the commercial process of identifying and preparing data for evaluation. Exabel’s purpose-built cloud-based platform will then enable investment teams to rapidly assess data signals for potency, relevance and insight. The combined Eagle Alpha and Exabel solution will dramatically improve the ease and efficiency with which alternative datasets can be identified, tested, selected and implemented into an investment workflow.
Commenting on the announcement, Exabel CEO Neil Chapman said “We are very excited to announce this partnership with Eagle Alpha, as we see it as an opportunity to have a major impact on the way the alternative data sector works. The first task facing any alternative data practitioner is to identify the correct datasets for the use case, and in so doing reveal the value within it with a maximum of speed and efficiency.
“As one of the foundational members of today’s alternative data community, Eagle Alpha has established itself as a reliable source for a wide range of alternative datasets. Armed with the Exabel platform and Eagle Alpha’s extensive data catalogue, a customer can thoroughly explore and evaluate multiple alternative datasets; this allows them to reach an unprecedented level of insight before making the decision to buy.
CEO of Eagle Alpha Niall Hurley commented “This partnership means that the adoption and integration of new data sources into investment decisions has significantly less complexity. By partnering jointly with Exabel and Eagle Alpha, a fund can have the benefit of the variety of data sources available on the Eagle Alpha platform and the ability to arrive at insights through that data being delivered by Eagle Alpha into their private environment in Exabel. This truly allows a fund to go end to end from discovery through to insight with Eagle Alpha and Exabel solutions and data engineers integrated to solve for customer challenges.”
First adopted by alpha-seeking hedge funds over 10 years ago, alternative data is now being sought for use in the wider asset management space, as well as the private equity and corporate verticals.
Eagle Alpha was one of the first companies to recognize the value from these new data sources and has been investing in educating and connecting alternative data vendors and buyers since 2012, in the process building trusted relationships with both sides of this market.
As of September 2021, Eagle Alpha has profiled in excess of 1,600 datasets and provides annual solutions to data buyers and data vendors globally. A unique breadth of datasets, knowledge of the industry and client relationships have cemented Eagle Alpha as the global leader and strategic partner in the data space.
Exabel is an analytics platform for any investment professional who wants to benefit from alternative data and modern data science tools in their investment process. It fulfils a growing need in financial markets: while use of data - including fundamental, market, proprietary and alternative data - is critical for asset managers, modelling such data in house has become an excessive use of time and resources for all but the very largest investment firms. Exabel's SaaS-delivered platform enables discretionary managers to complement their fundamental strategies with more data-driven techniques. It is the missing piece that allows investment teams to benefit from alternative data immediately. Exabel’s growing partnership program also empowers data vendors to discover new value-added insights in their datasets, demonstrate extra value to potential customers, and deliver a new, proven Insights product that appeals to a wide group of professional investors. Exabel is currently growing rapidly having raised $22.7m and increased the team to 35 employees with more hiring underway.