First Coverage

About First Coverage

First Coverage, initially known as iSequent, was established in Toronto, Canada, in 2006 as a financial services software company. The firm specialized in providing a platform for the financial services industry, focusing on the distribution and management of investment research.

The company's core product was a sophisticated distribution platform designed for capital markets. It enabled sell-side providers, such as investment banks and independent research firms, to deliver their research and analysis to buy-side clients, including asset managers and hedge funds. The platform aimed to improve the efficiency and targeting of research distribution, helping analysts get their insights to the most relevant institutional investors. For buy-side clients, it offered a centralized system to receive, filter, and manage the large volume of research they received, ensuring they could access pertinent information to inform their investment decisions.

Throughout its operation as an independent entity, First Coverage secured significant financial backing, raising a total of $14.5 million over four funding rounds from institutional investors such as Relay Ventures, Commonwealth Capital Ventures, and Hero Ventures. Its first funding round occurred on November 28, 2006. A key milestone in the company's trajectory was its acquisition by TIM Group in 2011. TIM Group, a global provider of software and services for the financial community, integrated First Coverage's technology to enhance its own offerings, which centered on trade ideas networks and alpha capture systems. This acquisition represented a strategic move to create a more comprehensive solution for investment professionals, combining First Coverage's research distribution capabilities with TIM Group's established network.