Stocksnips Uses AI To Figure Out Stock Movements

The Benzinga Global Fintech Awards are a yearly showcase of the best and brightest in fintech. In preparation for its biggest installment yet in May 2018, we're profiling the companies competing for the BZ Awards.

Our next feature is on Stocksnips.

What does your company do? What unique problem does it solve?

Ravindra Koka, chairman, Stocksnips: Stocksnips real time news sentiment is a reliable way to understand stock price movements. Our AI and Machine Learning do what investors can't  - sift through millions of lines in SEC filings and news outlets, and deliver focused snippets based on sentiment intelligence.

Who are your customers?

Individual investors, RIA’s, Hedge Funds, Brokerages, Banks, Financial content publishers

How long have you been in business?

Two years.

Where are you located?

Pittsburgh, Pennsylvania.

Who is your company's leadership? What kind of experience do they have?

Ravi Koka and Viv Penninti. Both the founders are serial entrepreneurs with successful exits in their prior ventures in the enterprise software space. SEEC Inc and InRhythm Inc respectively. Over two decades of experience in building products in the financial solutions and data analytics space.

Who are your investors, if any?

Innovation Works ( Start-up capital fund in Pittsburgh ) and other angel investors from hedge funds.

Is there anything else Benzinga should know about your company?

We have 15,000 users that have signed up for the mobile App and the average engagement time per session is 4 Minutes. We have 3 beta users ( large bank and a RIA ) for our Enterprise offering. We have a reseller agreement with Benzinga for our sentiment data.