According to a recent announcement, Everysk Technologies, an investment technology company providing multi-asset portfolio analytics with data-centric, machine learning techniques, has closed a $1.3 million seed financing round and reportedly is launching an automation system that brings real-time portfolio and risk management analytics to fund managers of all sizes.
Everysk Portfolio Risk & Automation enables asset managers and smaller firms to instantly establish robust risk processes by tapping into Everysk’s expertise and technology to give them the same sophisticated live reporting and actionable tools employed by top tier hedge funds.
“The stale, static, backward-looking PDF risk report delivered once in the morning is dead,” said Allan Brik, PhD, CEO, Everysk and former Partner and Chief Risk Officer at Arden Asset Management. “In today’s historically volatile COVID-19 markets, never before has the need for automated and contextualized portfolio and risk management information been more critical or more accessible. Everysk Portfolio Risk & Automation provides clients with timely insights into investment portfolios and intraday alerts via automated workflows, thus removing operational burdens from investment teams and allowing them to focus on more high impact tasks.”
Everysk provides forward-looking stress testing, factor modeling, and risk attribution for multi-asset, multi-currency portfolios covering 90 exchanges, 200,000 global equities, 40 currencies, government and corporate bonds, derivatives, and private assets.
“FK Capital uses Everysk’s interactive risk management analytics to monitor portfolio exposures and test appropriate hedges,” said Jorge Finkler, CIO of FK Capital Management, a value-oriented long-short equity strategy. “Everysk allowed us to avoid the significant COVID-19 downside experienced by many other managers in March.”
Everysk also announced that it has closed its first outside financing, a $1.3 million seed round led by one of the leading family offices globally. Terms of the transaction and identities of the funding sources were not disclosed. The funding values Everysk at $7 million. Proceeds from the funding will be used for general corporate purposes, technology development, product launches, and related efforts.