TipRanks Stock Analyst Ranking Service Raises $3M

July 23, 2014 | TipRanks, a stock analyst ranking company, closed Round A funding after raising $3 million. The investors in the company include former New York State Governor Eliot Spitzer, Cornell professor Roni Michaely and angel investor John Nakamura, among others. TipRanks ranks over 6,500 stock analysts and bloggers according to their rate of success with financial advice, average returns and consistency. The company employs machine learning techniques and natural language processing algorithms to scan the Internet and measure the performance of anyone who gives investment advice online. TipRanks was founded in 2012 by CEO Uri Gruenbaum and CTO Gilad Gad with $700,000 in seed money after realizing that there are not enough public information for investors on the track records of advisers and experts who provide financial advice online.