With AI powering market research, Wall Street giants gather on Reflexivity's financing list

By utilizing AI to analyze the market on Wall Street, Reflexivity attracted financing of up to $30 million.

On the 28th, Reflexivity (formerly known as Toggle AI) announced that the company has just completed a $30 million Series B financing round.

Interactive Brokers and Greycroft led this round of financing, with billionaire investor Stanley Druckenmiller and Australian hedge fund Kirkoswald founder Greg Coffey participating. Existing investors also include Izzy Englander, founder of Millennium Management, and General Catalyst.

Reflexivity was founded by two former hedge fund traders, Jan Szilagyi and Giuseppe Sette. This startup aims to conduct comprehensive data analysis by combining third-party data from over a dozen providers such as S&P Global, news sources, and proprietary internal information, to analyze the potential impact of market events on investment portfolios.

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"When you are an investor at a large hedge fund, you always worry about missing out," Szilagyi told the financial media outlet Business Insider:

"Trading that you do alone is always exciting, but it's even worse to miss out on trades that everyone else is participating in except you."

Reflexivity stated that its product can analyze over 40,000 stocks, bonds, and commodities using AI. The large language models it uses can extract structured and unstructured data, such as trading statistics and SEC filings.

It is worth noting that Monday was the first day the company used the name "Reflexivity," Szilagyi stated that the new name is more closely aligned with "how our platform helps the investment process."

Reflexivity is also a theory that believes investors' thoughts and behaviors directly influence the market, forming a cycle: investors' views affect market trends, and market trends in turn affect investors' views, and so on. George Soros is also one of the advocates of reflexivity theory.

Szilagyi mentioned in an interview with Bloomberg last year that his company is growing rapidly, and some curious Wall Street professionals would meet with him simply to see what his AI can do.

Reflexivity stated that its clients include Millennium, Soros Fund Management, ExodusPoint, Duquesne, and Lombard Odier, where Szilagyi has previously worked.

Peterffy, who co-led this round of financing with Greycroft, expressed in the press release that he looks forward to integrating the company's "advanced artificial intelligence capabilities" into his platform