Earlier this week, AltHub, an advisory and marketing resource for alternative data providers, announced the launch of its AI-driven platform called AltLab360, helping firms more easily collect, package and commercialize their data assets.
Details about AltLab360
AltHub’s newly launched modular platform leverages AI to transform raw data into ready-to-use datasets. The AltLab360 platform helps data owners evaluate various use cases, package data efficiently, generate market signals, and validate the predictive power of their data. In addition, the platform helps data providers to market their data to potential users.
Scott Hall, CEO of AltHub, explained the rationale behind the AltLab360 platform saying, “Our goal is simple yet profound: We want to empower data-driven companies across all industries to refine their raw data, creating alternative data sets for investment firms while unlocking a new revenue stream.”
A few of the key modules provided on the AltLab360 platform include:
SymLink: AltHub’s technology and service model enables data providers to accurately map data to over 300,000 global brands and product names and then link this data to public company tickers. In addition, this module conducts all data transformations needed to create point in time data with maximum features for building investment models.
Fundamental Edge & Quant Lab: Data providers can use AltHub’s intuitive dashboard and ML technology to easily conduct sophisticated financial modeling and backtesting to transform data into predictive investment signals. In addition, users can validate the investment performance of their data by testing the signals on historical data. The visual display available with these modules turns complex datasets into clear, intuitive, and interactive graphics that make it easy for users to identify patterns, trends, and generate insights quickly.
Prospector: With this module, AltLab360 clients can obtain curated and relevant leads, efficiently market their datasets, and uncover new avenues of revenue generation in order to shorten their sales cycle.
Insight Alerts: AltLab360 will also analyze data, monitor key performance indicators, and track portfolio performance to deliver the most impactful insights directly to a prospects’ inbox, thereby increasing the likelihood that these users turn into paying customers.
Delivery Hub: Data providers can also track and manage their data from trial to production across multiple channels like AWS, Google, and SFTP. This module helps simplify the data delivery process for data providers.
Chief Product Officer and co-founder Vishnu Thurpati, remarked, “With AltLab360, we’re bringing to the market a solution that demystifies data transformation. This is the next leap in data monetization and financial analysis.”
Background about AltHub
AltHub was founded in 2020 by Scott Hall, gaining initial non-equity assistance from global innovation ecosystem and early-stage investor Tenity. In June 2021, AltHub engaged in an all-equity merger with Invisage Alpha Limited, a UK-based sales and research performance management platform founded by Vishnu Thurpati.
In May, 2023 AltHub announced the closure of a seed funding round totaling $900k in capital led by The PearlFund, as well as various industry angels. This follows a $500k seed round that was closed in 2021.
AltHub’s merger with Invisage and their two capital raises of $1.4 mln gave AltHub the resources to build the AltLab360 platform, leverage their relationships in the alternative data industry, and further advance its position as a must have solution for alternative data providers.
Our Take
According to a recent report by Deloitte, the alternative data industry is expected to reach $137 bln in revenue by 2030, due in large part to the explosive growth in data consumption by a wide range of corporations leveraging data to drive better management and investment decisions.
Despite this rosy outlook, many data industry participants say the industry is extremely fragmented, with over 80% of the 2,500 data providers currently selling their data generating less than $200,000 in annual revenue. This is due to a wide range of issues surrounding product development, packaging and marketing.
AltHub’s recent launch of AltLab360 is an effort to help existing and potential data providers address many of these shortcomings. The team at Integrity Research finds this new platform to be quite exciting, particularly given its modular nature. We would not be surprised to see robust take-up of a few of the platform’s modules like SymLink or Prospector.
Despite this fact, Althub continues to face stiff competition from other firms in its space like Neuravest, Exabel, or CloudQuant. It will be interesting to see just how effectively AltHub can gain traction with the new AltLab360 platform.
Important Disclosure: Integrity Research Associates Chairman & Founder, Michael Mayhew, is a member of Althub’s Board of Advisors.
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