Today we are thrilled to announce that Tegus has acquired Canalyst, the industry leader in financial modeling and company benchmarking data for institutional investors.
This is a significant milestone for Tegus. It helps us fulfill our vision to create the world’s most powerful and efficient research platform for institutional investors. Customers will now be able to link expert call interviews, models, and public financials – all on a single platform. The 360-degree view we’ll be able to offer, at scale, will be unmatched in the market.
This acquisition is the fulfillment of a long-term Tegus strategy that began years ago when my twin brother Tom and I had a vision of making research faster, easier, and more accurate for investors.
THE HISTORY AND MISSION OF TEGUS
Less than a decade ago, Tom worked for a family office as an analyst and I was working for a leading research company, giving us both a front row seat into the investment research process. We quickly realized this process was in desperate need of optimization, if not total disruption. Some of the smartest minds were spending the vast majority of their time manually aggregating, sorting and sifting through data rather than doing the analysis itself. The entire process was time consuming, tedious, and often expensive.
In 2017, we quit our jobs on the same day to create a solution.
We spent the first 18 months speaking with as many investors and researchers as we could. Were they experiencing the same pain points we saw and felt? And how could we start to draw inspiration for a better process.
As we considered how we could solve this macro-level problem for institutional investors, we heard the key themes every investor relies on to make decisions:
We first chose to solve qualitative insights… and that’s how Tegus was born.
As we scaled our solution to provide the deepest and highest quality expert insights for over 2,500 customers, we never stopped listening to customers for how we could make their research process faster, easier and provide higher quality data.
Through our discovery, we knew we needed to bring in the first key theme above into our platform. We acquired BamSEC in 2021, introducing powerful workflows that streamline research across company disclosures, management presentations, earnings calls, and filings. Since integrating BamSEC into Tegus earlier this year, over 2,500 new users actively use the product, joining more than 17,000 active BamSEC customers last month. Our customers were thrilled and our growth continued.
WHY CANALYST IS THE PERFECT ADDITION TO TEGUS
With Canalyst, we’re bringing in the second key theme to the Tegus platform: unparalleled financial models. When we ask customers what successful use cases of Tegus look like, we often hear that the context gleaned via experts help customers get up to speed quickly and help inform their thesis when forecasting the potential outcome of an investment.
That led us to today’s milestone - providing the ability to instantly understand the financial health of a company through company models, instant benchmarking and aggregating publicly-reported, hard-to-find KPI’s. It was exciting to think of a world where we could deliver world class models and to take the pain out of yet another intensely manual process.
That’s what makes Canalyst our perfect partner in achieving our mission— they have already created over 4,000 as-reported company models and benchmarks with every KPI and comparison that matters.
Not only that, their customers love them, their employees are first-class, and they were recently #49 on The Financial Times’ list of The Americas’ 500 Fastest-Growing Companies 2022.
As our teams integrate, we’ll share additional information and news. In the meantime, and starting today, Tegus customers who are also Canalyst customers will already be able to link between the Tegus and Canalyst platforms. This is the first step in connecting our offerings.
In the coming weeks and months, we’ll be rolling out even more integrations and exciting updates that will level up our customers’ research.
We’re excited to lead the market in creating a reality where researchers and investors spend less time on the time-consuming data gathering and data entry and more time analyzing companies and making decisions with confidence and precision
Most of all, thank you to all the customers, existing and new, who are with us on this journey. We’re committed to listening closely and pursuing a multi-decade journey to create a product that customers can’t live without. With this exciting news, we’re even more committed to creating the best possible research experience for you.
Mike & Tom Elnick