Quiver Quantitative, which provides tools and dashboards for retail investors, announced recently that it closed a $2 million financing round led by Allos Ventures.

According to a release, the company will use the funds for user growth, new proprietary datasets and advanced backtesting and analytics. 

“Hedge funds and other professional investors spend billions a year on alternative data to inform their investment decisions,” CEO James Kardatzke said in a statement. “We want to level the playing field by bringing this same information to individual investors.”

M25, Bascom Ventures, Lancaster Investments, Connetic Ventures, WARF and the Idea Fund of La Crosse also participated in the funding round.

Quiver’s free app provides access to datasets that track everything from social media sentiment to government contracts. The company launched in 2020 and has more than 300,000 registered users.