Covey is a NYC-based, analyst-owned community and blockchain-enabled platform that tracks simulated stock picks on a leaderboard to find and reward top-performing analysts. For the past year it has hosted over a hundred anonymized analysts whose best-performing portfolios received monetary rewards. The company plans to shift rewards to a token launching this fall and to introduce copy trading in 2023 so users can implement analysts' strategies directly. Covey intends to use its new funding to continue building the platform and to nearly double its engineering team by the end of the year. The platform will award the top 10% of analysts the opportunity to publish investment ideas to users, who can then implement those strategies through the product. Covey was founded by Brooker Belcourt, who previously spent seven years managing investments at Citadel, a Tiger Management–seeded fund, and Coatue.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Jul 2022