Quiver Quantitative: Providing Alternative Data for Investors

Quiver collects alternative stock data to share with investors via a web dashboard

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In finance, alternative data is a collection of non-traditional financial and market-related information. This provides investors with unique insights into investing trends that might affect their portfolio. Unfortunately, this information has long been largely accessible only to hedge funds, asset managers, and management firms, not individual accredited investors.

Alumni Ventures portfolio company Quiver Quantitative is changing that, giving retail investors access to actionable, easy-to-interpret alternative data. Quiver collects unconventional data from sources across the internet — including politicians’ investment activity, government contracts, and company mentions on social channels — that were previously too distributed to efficiently monitor, providing users with a unique perspective on financial markets.

From the University of Wisconsin to Quiver

Quiver was founded by twin brothers James and Christopher Kardatzke, who graduated from the University of Wisconsin in just two years. The brothers were top students in the finance program and, rather than pursuing careers on Wall Street, founded Quiver in their last semester. So far, the team has attracted a large user base of retail investors on its accessible data platform and tens of thousands of followers and millions of views on its social media channels. 

The company uses a freemium model for retail users, providing access to limited data and content for free and more robust data and detailed content for $20 per month or $200 for an annual subscription. Additionally, the team created an API for institutional clients looking to incorporate Quiver’s data into their existing data feeds and has significantly grown API subscriptions over the last year.

What We Liked About Quiver

Organic Traction: Quiver has largely grown without putting financial resources into marketing. Retail users have been gained through hustle across social platforms like Reddit, Twitter (31.5k followers), Instagram (72.4k followers), and TikTok (296k followers and 1.3M likes). Institutional customers have come from inbound requests and references. 

Capital Efficiency: Quiver is run with an entrepreneurial mindset; the team always looks to solve problems with creativity before capital. The company has amassed a sizable retail user base and institutional pipeline with limited funding and plans to continue a relatively lean operation.

Growing Influence & Product Pipeline: Quiver intends to create proprietary products that encourage adoption, particularly among retail investors. One of the team’s products in development is called Quiver Strategies, a set of sample ETFs and quant strategies created by Quiver based on its alternative data. This feature will be part of a premium subscription that plays off the trend of social investing. Quiver’s vast social media audience suggests that the company could become a social finance influencer in this way. Influence combined with proprietary products will help drive continued user adoption and stickiness of the platform. 

How We Are Involved

Bascom Ventures (for the UWisconsin community) and Congress Avenue Ventures (for the UTexas community) deployed capital in Quiver’s $2 million seed round led by Allos Ventures. Other participants included M25, Lancaster Investments, Connetic Ventures, WARF, and the Idea Fund of La Crosse.

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Contact [email protected] for additional information. To see additional risk factors and investment considerations, visit av-funds.com/disclosures.