Ventriks Building a Comprehensive Data Ecosystem for Users, Says CEO
Richard Quigley co-founded Ventriks back in April 2020 and has made rapid progress in building a flexible, cloud-native solution for data management targeting the energy and commodities space. Ventriks now has many customers in industries like utilities, oil & gas and so on. “Our customers tend to be currently more on the physical side of the business,” he told me. “Although we do have a couple that are more on the financial side as well.” Pretty good going for a start-up but then this is Richard’s second go around since he helped establish, and then sold, data management vendor – Datagenic – previously. “The pipeline is strong, and we are attracting new customers with our value proposition,” he said.
Richard had a vision for data management that encompassed attributes like easy to use, affordable, open, ready to use and so on. It is also strong on connectivity and Richard describes it as an ‘ecosystem of connections’ that includes ETRM’s, BI tools and more as well as data flows in and out of the platform. A glance at the company’s website shows a steady stream of announcements of the addition of various data sources including EDI, EEX, Baltic Exchange Partnership, MT Newswires and many more – some 220 data providers and 35 to 40 connectors currently with an ambition to have 250 by the end of 2025, he told me. Full integration with Trayport is also a part of the platform.
“The Ventriks Marketplace is a comprehensive data ecosystem, with categories including, Power, Natural Gas, Softs, Metals, FX, Equities, Bonds, Crypto, PetChems, Biofuels, Coal, Emissions, Transport, Weather – delivered in real-time, delayed or End of Day,” a recent announcement stated. “Users can select from hundreds of data/partner combinations through the Ventriks Marketplace’s single API to create rich, customised datasets that best meet their needs. With fully maintained API connections to all data providers and a no-code interface, users can connect to new data sources in minutes and test data across their decisioning processes.”
Currently, Richard says Ventriks is looking at incorporating CHATGPT-type functionality allowing users to ask questions and obtain replies and to execute different workflows.He sees AI as playing an important role in energy & commodities in the future saying that “AI use cases are evolving rapidly.”
In terms of goals and objectives, it seems Ventriks is well on the way to fulfilling some of Rihard’s intial goals he said. These included a view that “success is building a SaaS Cloud offering that provides fair value to our customers, offer the best service that you can provide (using a combination of technology and people), and has the ability to the level the commercial playing field of larger customers over the smaller organizations. So that’s our success measure and is at the heart and cornerstone of everything we are building.”
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