SigOpt, Two Sigma
March 6, 2019
has started a strategic partnership with Two Sigma, a systematic
investment manager. Two Sigma has become a customer of SigOpt and is
advising SigOpt as they build out their platform. Additionally, as part
of the partnership, Two Sigma is making a minority equity investment in
SigOpt, joining Andreessen Horowitz, Blumberg Capital, SV Angel, Y-Combinator,
DCVC and In-Q-Tel as investors in SigOpt. The terms of the deal were not
SigOpt helps companies improve their research and model development
process by streamlining specific tasks. Specifically, SigOpt will
support Two Sigma with parameter tuning, the time-intensive task of
choosing a set of parameters to help optimize this process. Companies
like Two Sigma spend a significant amount of time on parameter tuning.
With SigOpt, Two Sigma can focus more time on other parts of the
research process and delivering high value outcomes for investors.
The SigOpt platform is a best-in-class solution for companies like Two
Sigma. The platform is agnostic to model, library or infrastructure
type. Additionally, it includes proprietary advanced algorithms that
enable experts to develop novel strategies, evaluate them with entirely
new experimentation techniques like multimetric optimization, and scale
this experimentation with an asynchronous parallel approach.
Two Sigma Chief Innovation Officer Matt Greenwood explains,
"Experimentation is a key part of Two Sigma's business and it is only as
good as the process which enables it. We rely on SigOpt to reduce time
spent on these tasks, making our research process more efficient."
This is core to SigOpt's mission according to SigOpt CEO and Co-Founder,
Scott Clark. "Our mission is to empower experts. We have the biggest
impact when we are embedded in platforms that scale model development
and work with leading employers of these highly skilled researchers. We
are lucky to accomplish both with a partner like Two Sigma."
As part of the strategic partnership, Two Sigma will also advise SigOpt
on its product development and roadmap. Its experts will help articulate
how SigOpt can continue to deliver innovative solutions for all of its
customers with both the current platform and new areas of development.