Web-scraped data provider Quiver Quantitative has raised $2m in funding, which it intends to use to grow its platform.

According to a company release, the vendor will use the funds to “accelerate the accessibility of alternative data for retail investors, bring new proprietary datasets to [its] platform and add advanced backtesting and analytics capabilities of top of [its] existing offerings.”

The firm also provides products to institutional investors, including a dataset that tracks ticker mentions and sentiment on the subreddit r/WallStreetBets.

The data provider rose to prominence in early 2021 as institutional investors sought data sources that could help them monitor the activities of retail traders. Last July, the firm rolled out a free app that provides access to a wide variety of alternative datasets, including those that track social media sentiment, government contracts and the stock trading activities of members of Congress.

Alios Ventures led the round and was joined by M25, Bascome Ventures, Lancaster Investments, Connetic Ventures, WARF and the Idea Fund of La Crosse.

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