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Numerai

Numerai

Numerai is a hedge fund with stock market trades determined by crowdsourced artificial intelligence models. The best models receive rewards in the form of a cryptographic token called Numeraire (NMR) on the Ethereum blockchain.

OverviewStructured DataIssuesContributors

Contents

numer.ai
Is a
Company
Company
Organization
Organization

Company attributes

Industry
Digital currency
Digital currency
Market research
Market research
Cryptocurrency wallet
Cryptocurrency wallet
Prediction market
Prediction market
‌
Cryptocurrency protocol
Cryptocurrency exchange
Cryptocurrency exchange
Artificial Intelligence (AI)
Artificial Intelligence (AI)
Virtual currency
Virtual currency
...
Location
San Francisco
San Francisco
California
California
United States
United States
B2X
B2B
B2B
CEO
Richard Craib
Richard Craib
Founder
Richard Craib
Richard Craib
AngelList URL
angel.co/numerai
Pitchbook URL
pitchbook.com/profiles...156660-49
Legal Name
Numerai GP, LLC
Number of Employees (Ranges)
11 – 50
Email Address
contact@numer.ai
investing@numer.ai
Phone Number
+18667901946
Number of Employees
32
Full Address
10 Funston Avenue, Presidio Main Post, San Francisco, CA 941290
CIK Number
1,667,103
Place of Incorporation
Delaware
Delaware
Investors
Alexander Pack
Alexander Pack
0
Sora Ventures
Sora Ventures
0
Josh Buckley
Josh Buckley
0
William Guttman
William Guttman
First Round Capital
First Round Capital
0
Paradigm
Paradigm
0
Peter Livingston (entrepreneur)
Peter Livingston (entrepreneur)
0
Ross Blankenship
Ross Blankenship
0
...
Founded Date
2015
0
Total Funding Amount (USD)
17,500,000
Latest Funding Round Date
February 2, 2023
CTO
Anson Chu
Anson Chu
0
Latest Funding Type
Series B
Series B
Patents Assigned (Count)
1
COO
Dan Spier
Dan Spier
Wellfound ID
numerai
Technologies Used
Erasure (Numerai)
Erasure (Numerai)

Other attributes

Block Explorer URL
ethplorer.io/address/...d3cb46671
etherscan.io/token/0x...d3Cb46671
Blog
medium.com/numerai
Circulating Supply
1,349,328
Community Forum
forum.numer.ai
Company Operating Status
Active
Cryptocurrency Symbol
NMR
Investment Fund Type
Hedge fund
Hedge fund
Latest Funding Round Amount (USD)
10,000,000
Maximum Supply
11,000,000
Source Code
github.com/numerai
Wikidata ID
Q48996771

Numerai is a hedge fund headquartered in San Francisco, California, founded by Richard Craib in October, 2015. The company hosts an open data-science competition, in which anonymous competitiors compete to make the best stock market predictions using machine learning models trained on obfuscated financial data. Competitors are rewarded with a digital currency known as Numeraire in proportion to the quality of their predictions.

Numerai encrypts its trading data prior to sharing it with the participating data scientists to prevent them from mimicking the fund's activity. This encrypted data is organized in a way that allows the data scientists to build models that can potentially execute trades more effectively. The efficacy of the company's model has been questioned by Michael Wellman, a University of Michigan professor, who suggested that it is unnecessarily complicated.

History

Numerai's inception was driven by Craib's vision of using artificial intelligence and collective intelligence to make investment decisions. In December of the same year, the firm began hosting a continuous competition, inviting data scientists to use machine learning models to predict stock market trends.

In April 2016, Numerai secured an initial $1.5 million in funding from a group of investors led by Howard Morgan and Naval Ravikant. By the end of 2016, Union Square Ventures joined as investors, raising an additional $6 million.

In 2017, Numerai became the first hedge fund to introduce its own cryptocurrency, Numeraire (NMR), to incentivize the participation of data scientists in its tournaments. The introduction of Numeraire was intended to incentivize better modeling, encourage collaboration amongst participants, and facilitate international payment.

Also in 2017, Numerai announced the addition of cryogenic freezing to its health plan, offering employees the opportunity to be cryogenically preserved after death.

Timeline

No Timeline data yet.

Funding Rounds

Products

Acquisitions

SBIR/STTR Awards

Patents

Further Resources

Title
Author
Link
Type
Date

#191 Richard Craib: Numerai - A Revolutionary Hedge Fund Built on Blockchain and AI

https://www.youtube.com/watch?v=Xa6L2UHTm2g

July 11, 2017

An AI hedge fund created a new currency to make wall street work like open source

Cade Metz

https://www.wired.com/2017/02/ai-hedge-fund-created-new-currency-make-wall-street-work-like-open-source/

Building The Meta Model on Numerai

https://www.youtube.com/watch?v=dhJnt0N497c

January 27, 2017

Numerai

Andy Weissman

https://www.usv.com/writing/2016/12/numerai/

Web

December 12, 2016

Numerai • r/numerai

https://www.reddit.com/r/numerai/

Web

December 14, 2016

References

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