Reflexivity

Reflexivity answers quantitative questions that document platforms do not. Its agents write and run Python against a knowledge graph of more than ten million relationships and licensed data from LSEG, S&P Global and Cboe, bundled so clients need no separate data contracts. Founded by investors from Duquesne, Lombard Odier and Fortress and backed by Druckenmiller and Interactive Brokers, it is distributed to IBKR clients and powers IBKR's Investment Themes.

The enterprise evidence is thin. SOC 2 Type 2 is claimed on the homepage without a report date or trust centre; SSO, audit logs and a current privacy policy were not located — the published policy dates from 2022. Model providers are not disclosed, no evaluation results are published, and the team is small, with about 28 people on its roster and no financing since October 2024.

We initiate at 6.50, Established, with a Stable outlook. The score sits exactly on the boundary between Established and Emerging. Investment Workflow Fit, at 6.92, reflects strong idea generation and monitoring; Data & Content, at 5.75, reflects the absence of broker and expert content. A current privacy policy, SSO and published evaluation results would move the score most.

Strengths

• Practitioner founders and backers. Founders from Duquesne, Lombard Odier and Fortress, and backers including Stanley Druckenmiller, Greg Coffey and Thomas Peterffy.
• Strategic distribution. Interactive Brokers is a minority owner and runs Investment Themes on Reflexivity across its platforms; Akbank uses it for AI stock insights.
• Bundled licensed data. LSEG Datastream with I/B/E/S, S&P Global, Cboe, Dow Jones and Reuters with no separate data contracts.
• Differentiated architecture. Code-executing agents over a knowledge graph of 40,000+ securities, 900+ themes and 10m+ relationships.
• Open engineering writing. Public posts on evaluation, model-migration cost and explicit failure handling.
• Microsoft 365 Copilot presence. A Copilot plugin launched in June 2026.

Cautions

• Security evidence. SOC 2 Type 2 is claimed without a report date or trust centre; ISO 27001, SSO/SAML/SCIM and admin audit logs were not located.
• Model providers. AI subprocessors are not disclosed, and marketing describes infrastructure "air-gapped from public AI models" while company posts discuss frontier-model deprecations.
• Privacy terms. The published privacy policy dates from January 2022 and cites the defunct Privacy Shield; data terms need to be negotiated.
• Traction evidence. Institutional client names come from one secondary source, ARR is not disclosed, and no case studies were located.
• Evaluation. The evaluation method is described but no results are published; buyers should test on their own questions.
• Scale. About 28 people on the roster and no go-to-market roles posted; buyers should assess support capacity.
• Funding. No round located since the $30m Series B in October 2024.
• Content scope. Broker research, expert transcripts and client document corpora were not located.