Press Release: Global Predictions raises $2M to bring elite hedge fund caliber economic models to data-hungry mainstream investors

July 19, 2021

Global Predictions today announced a $2M raise from Village Global, Morado Ventures and AME Cloud Ventures. The San Francisco-based startup uses large hybrid-AI macroeconomic models to bring hedge fund inspired models to retail and institutional investors. 

Founded by veteran startup leader Alexander Harmsen, Global Predictions has mapped millions of socio-economic relationships to create a dynamic model of the global economy. The proprietary system uses hundreds of thousands of time series data, ranging from public health and stock market movements to macroeconomics and technology trends, to make 2-12 month forecasts. The company’s “model of models'' approach integrates state-of-the-art Machine Learning techniques, statistical forecasting, and classic economic modeling to empower users with data-derived insights for application within financial and risk management. A free trial version of the product is publicly available via the company’s website (link), with active users consisting of financial managers, family offices, investment institutions, and individuals. 

“We offer a set of tools and solutions that will empower our users with unbiased, frequently updated insights about the state of the local and global economy,” said Harmsen. Previously, Harmsen was Founder and CEO of Iris Automation, an industry leader in hybrid-AI software for autonomous vehicles that has achieved regulatory approvals and scaled global sales, having raised over $25M from investors including Y-Combinator and Bessemer Venture Partners. “Society is finally at the right intersection of model acceptance, economic understanding, complex systems theory, machine learning, data, and access to venture capital to bring Global Predictions to life,” said Harmsen.

“We back entrepreneurs who are transforming global industries,” said Anne Dwane at Village Global. “Alex has assembled an incredible team, and we are deeply impressed by their commitment to bringing tools that have so long been trapped within hedge funds to a broader set of stakeholders, in and beyond financial markets.” 

Ash Patel and Mike Marquez of Morado Ventures noted that “most investors can’t access top-tier modeling tools or harness the tremendous amount of traditional and alt-data available nowadays. We believe that the vision to overcome those barriers with Global Predictions is tremendous and will allow for improved risk management and enhanced decision making.”

Global Predictions will use the funds raised to bring Bridgewater-type macro models to mainstream investors for visibility and risk management, and will accelerate the company’s practice of talent-based hiring for subject matter experts and technical talent.

About Global Predictions:

Global Predictions is a deep-tech company that has built a digital twin of the economy using complex, hyperconnected simulations, economic modeling, diverse data streams and machine learning. By using a diversity of models to represent the “big picture” outside view, Global Predictions offers precise, informative and unbiased forecasts for investors, policy makers, multinational corporations, and financial services. 

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