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Mercata

Mercata builds research infrastructure for fundamental investment firms — an AI layer that turns a fund's own notes and documents, plus filings, news and releases, into a queryable research environment with source-linked answers.

The people

Rich EmrichCEO · 1 TechTO talk
MR
Matthew RennieCo-founder & CTOprofile coming

What they build

MercataA research environment for fundamental investors: internal and external sources unified, queried in natural language, answers linked to their sourcesProduct page ↗

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Working at Mercata

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About

Mercata's pitch is that a fund's real asset is how its analysts reason, and that most of it is trapped in documents and inboxes. The system captures theses, decisions and evidence alongside external sources it scans in real time, so a research team can ask layered questions that cross companies, people and time and get answers that link back to what they came from. It is aimed at fundamental funds rather than quant desks, and the company says it is built to be shaped by each firm rather than shipped as a finished product — clients configure it with Mercata's team. Rich Emrich co-founded it with chief technology officer Matthew Rennie after leading Altus Assessments, the company behind the Casper admissions test, past US$20 million in recurring revenue; it renamed itself Acuity Insights in 2022 and he left in January 2024.

Backers

No funding round is announced anywhere read for this page. Mercata is described as a FutureSight venture on Rich Emrich's profile.

Some figures are founder-stated, not independently confirmed

Quick answers

What does Mercata do?

It gives hedge funds and other fundamental investors a single place to research: their own notes, memos and data alongside filings, press releases and news, queried in natural language with every answer traceable to its source.

Who founded Mercata?

Rich Emrich, its chief executive, and Matthew Rennie, its chief technology officer. Emrich previously co-founded Altus Assessments — later Acuity Insights — and led it as CEO until January 2024.

Who is it for?

Fundamental investment firms rather than quantitative desks. The company positions the system as configured with each firm rather than delivered as a fixed product.

Who from Mercata is in this directory?

Rich Emrich, its co-founder and CEO, who spoke at TechTO in January 2018 while running Altus Assessments.

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Maintained by TechTO · facts sourced and dated · last reviewed Aug 29, 2026