San Mateo, Calif., September 8, 2008 - FirstRain®, the leading provider of search-driven research, today announced the signing of its 100th institutional client. This is an important milestone and marks an acceleration in the number of firms and subscribers since the company launched its new search-driven research platform two years ago.
FirstRain’s subscribers gain a unique advantage by using the Web as a standard step in their institutional research process and are typically portfolio managers, analysts and corporate executives. FirstRain clients include Fortune 1000 corporations, the top asset managers and large and small hedge funds—for example firms such as Chartwell, CI Investments, Daruma, Emancipation Capital, Pioneer Investments, South Dakota Investment Council, The TCW Group, Inc., Williams Jones, Institutional Investor, JVC, Motorola, SAP, and Talecris—as well as firms who insist on confidentiality to maintain their competitive advantage from using FirstRain.
“This is the year smart financial professionals incorporate the web into their standard research process. Adding thousands of subscribers and now our 100th client is validation of the imperative the market feels to use the breadth and depth of information the Web offers—and that a new level of technology can make this systematic and repeatable”, said Penny Herscher, President and CEO of FirstRain. “The web has grown into the richest but most chaotic business dataset in the world. At FirstRain we have developed a product that not only maps vastly dispersed web data into our user’s world view of companies, management, industries, business topics and competitors, but also derives powerful analytics from the data. As a result our users can quickly identify data points, trends and questions from across the Web that impact their business decisions.”
FirstRain users, who are typically corporate executives in marketing, sales and finance, or institutional buy-side portfolio managers and analysts, describe the value they receive from FirstRain as:
Highly efficient and personalized access to hard-to-reach information from sources like blogs, international and local news and industry publications
Revealing and unique analytics about Management, including unannounced turnover and communication patterns
Comprehensive visibility into data on hard-to-research mid-cap, small-cap and private companies
Risk mitigation by systematically ensuring no web information relevant to the company is missed each day
Daily reports of critical information about industries, corporate governance issues and competitive trends retrieved from widely dispersed data sources on the Web
FirstRain customers are worldwide and include:
Investment managers and mutual funds
Large and small hedge funds
Corporations in technology, pharmaceuticals, chemicals, energy and others segments
Private equity firms
Funds of funds
Information platforms as distributors of FirstRain results.
FirstRain changes the rules of research by applying state-of-the-art search, extraction and pattern detection technology to the web. As the leader in search-driven research, FirstRain products provide institutional investors and corporate executives with a powerful information advantage by uncovering information that they would not otherwise see. FirstRain is a privately held company with more than 150 employees, headquartered in San Mateo, Calif., with additional offices in New York, NY and Gurgaon, India. Contact FirstRain at www.firstrain.com. Visit Penny Herscher’s blog, Market Mine, athttp://pennyherscher.blogspot.com.