Numerai, an AI-powered hedge fund, has secured a $30 million Series C round, bringing its valuation to $5 billion. This funding boost was fueled by university endowment funds, and the investment is expected to accelerate growth in assets under management (AUM). Numerai’s AUM has grown significantly from $60 million to $550 million over just three years, highlighting the rapid expansion of the company.
Driven by the success of its AI strategies, Numerai aims to expand operations and tap into new opportunities. The funding will allow the firm to bolster its engineering teams, open offices in New York City and San Francisco, and leverage additional capacity support from JPMorgan Chase. This strategic move positions Numerai for greater market influence in the institutional investment sector.
Numerai’s success has been welcomed by stakeholders, with CEO Richard Craib stating,