One of Silicon Valley's hottest VCs just threw millions at a startup that could make Wall Street analysts sweat

Much of a morning on Wall Street is spent combing through piles and piles of analysis from a myriad of banks, research firms, and buy-side shops.

Street Contxt is a startup in the process of creating a product that tells you what research, within those piles, is actually worth your time.

It also just closed an $8 million Series A Funding Round.

CEO Blair Livingston says he’s confident in what his company has built, and that this round is the final push the product needs to take it to market.

It was led by superstar venture fund Formation 8, which is known for some incredibly successful investments like Oculus, which was acquired by Facebook for $2 billion.

‘Tens of billions of dollars of spend per year’

“Blair has built an extraordinary platform and team that’s solving a problem which impacts tens of billions of dollars of spend per year,” said Formation 8 co-founder Joe Lonsdale.

“Street Contxt is bringing data-driven processes and metrics to this previously opaque and relationship-driven part of finance which will make it more meritocratic, create incentives for better research, and yield fairer and more useful results for the entire financial ecosystem.”

In a nutshell, Street Contxt is designed to be the portal where all of the information that passes between brokers, traders, and everyone else on Wall Street is stored. It follows how good specific analysts are, who is sending — and yes, forwarding — reports, and who’s got the most accurate information flow in the business.

All of that will be easily searchable in once place.

Before starting Street Contxt, Livingston spent time at RBC Capital Markets and stock trading venue IEX Group.

Previous investors in Street Contxt include UBS, Wells Fargo, PIMCO, JP Morgan, and Barclays.

If all the firms that threw money at this actually use it, Street Contxt could get really interesting.

NOW WATCH: Martin Shkreli may have hung up on an FBI agent live on video hours before his arrest

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.