Navigating through the convoluted corridors of commodity trading often means wrestling with dispersed and delayed pricing data. Sparta, founded in 2020 by veteran traders Miles Moseley and Felipe Elink Schuurman, presents a seasoned solution to this perennial predicament, having already reeled in entities like Philips 66 and Chevron with its revolutionary approach to real-time market intelligence and forecasting.
In an industry where typically 90% of essential pricing data is mired in silos and manually shared through archaic channels like voice and email, Sparta bestows a finesse of technological adeptness. Carving a niche as the sole platform concentrating on presenting tradable prices and opportunities, Sparta proficiently intertwines past and present data with immediate, actionable insights.
This fresh infusion of USD 17.5 million, steered by technology venture capital firm FirstMark with the unwavering support from existing shareholder Singular, propels Sparta to broaden its horizons not just in terms of geographical reach but also in expanding and enhancing its technological offerings. Remembering its past USD 6 million round led by Singular, this new capital accentuates a steadfast confidence in Sparta’s innovative prowess and its envisioned trajectory in the commodities trading sphere.
Honing AI tools for forward looking insights and predictions
Plans under this financial umbrella encompass the proliferation of premium insights, foraying into new commodity verticals, and honing AI tools to dispense forward-looking insights and predictions. The financial muscle will also be leveraged to deepen roots in its existing territories – Geneva, London, Houston, Singapore, and Madrid – and potentially explore uncharted geographical landscapes.
Felipe Elink Schuurman, CEO of Sparta, commented: “We’re delighted to have gained the support of the team at FirstMark, and the continued support of Singular, to help us execute on the next phase of our vision – to revolutionize the way traders gather, process, analyses, and interpret data to inform strategic decision-making in real time and help organizations anticipate future developments and capture more opportunities.” It’s a sentiment resonantly echoed by Matt Turck, Partner at FirstMark: “Despite only being a three-year-old company, Sparta has been ushering a new era in the commodities trading industry, providing not just real-time data but also predictive analytics, increasingly powered by data science, ML, and AI. Sparta has assembled a great team of both industry veterans and technologists, and it’s been experiencing impressive commercial traction with customers around the world. We’re thrilled to partner with the company and its team.”
