AI startup Reflexivity, formerly known as Toggle AI, has successfully raised $30 million in a Series B funding round. The company was founded by ex-hedge fund traders Jan Szilagyi and Giuseppe Sette, and it integrates diverse data sources into an AI-driven platform for investment analysis.
The platform processes data from various sources, including S&P Global, Refinitiv, and the Federal Reserve, allowing investors to evaluate how macroeconomic events influence specific portfolios. For instance, when U.S. Treasury yields change, Reflexivity’s system assesses their relationship with banking stocks like Wells Fargo (WFC, Financial), identifying potential opportunities and risks that investors might otherwise overlook.
Leading the funding round were Interactive Brokers and Greycroft, with participation from billionaire investor Stanley Druckenmiller (Trades, Portfolio) and Kirkoswald founder Greg Coffey. Existing investors include Izzy Englander of Millennium Management and General Catalyst.
Reflexivity aims to solve issues related to isolated data systems in finance, offering a closed AI interface to prevent common generative AI inaccuracies. Unlike open models, Reflexivity's AI uses only curated, high-quality data sets to ensure reliable, fact-based insights, crucial for financial professionals where inaccuracies can lead to significant losses.
The company’s approach includes providing direct responses when data is insufficient, rather than generating false information, thus enhancing analytical integrity. Customers include Millennium, Soros Fund Management, and others, showing the platform’s robust market acceptance.
