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Print Edition StoriesThursday, December 10, 2009
Fina Technologies closes $4.5M Series A round
By Mass High Tech staff
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Cambridge-based Fina Technologies Inc., a spinoff of Gene Network Sciences Inc., has completed a $4.5 million Series A financing led by Reed Elsevier Ventures, with participation from Excel Venture Management.
Founded in 2008, Fina Technologies applies its machine-learning tools to finance and ecommerce-focused large-data problems. The company’s licensed REFS supercomputer-based software platform, which determines quantitative trading algorithms of a system’s behavior, has a history of use by GNS with such pharmaceutical and biotechnology firms as Johnson & Johnson, Biogen Idec and Pfizer.
“Fina Technologies represents the first of multiple opportunities for GNS to form separate companies that utilize our REFS platform to rapidly extract actionable knowledge and insights from the onslaught of an exponential increase in data in several industry verticals,” said Colin Hill, chairman of the board of directors of Fina Technologies and CEO of GNS, in a press release.
Reed Elsevier Ventures, the venture capital arm of Reed Elsevier, invests in internet, media and technology firms.
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