SAR

What SAR does

SAR (Securities Analytics Research) is a Bethesda, Maryland-based data analytics company founded in 2018 that builds specialized software for measuring securities litigation risk on U.S. public companies. The company's SAR Platform applies the court-approved event study methodology to stock price reactions on corporate disclosures from issuers trading on the NYSE and NASDAQ, quantifying the probability and magnitude of securities class action exposure for directors and officers. SAR's core technology stack includes the ACE Database covering 5,000+ U.S. equities with adverse corporate event tracking, the SCA Database containing 1,500+ securities class action filings with stock price reaction data, and the SAR Risk Score framework that ranks issuers on litigation risk. The company has published quarterly statistical back-testing results since 2018 and deliberately does not use AI or machine learning, anchoring its credibility on human accountability and judicial acceptance of its methodology.

SAR monetizes through subscription-based data licensing and bespoke enterprise arrangements delivered via direct field sales. Customers access the platform through cloud-based dashboards, Microsoft Excel exports, and API raw data feeds, with the newer ACE Alert Subscription providing near-real-time adverse event notifications. The company sells into four primary personas: D&O insurance underwriters and actuaries using settlement valuation data for reserves and mediated negotiations, corporate executives and directors quantifying exposure to event-driven perils, legal counsel using evidentiary support in motion-to-dismiss and class certification proceedings, and investment professionals using the data for portfolio-level risk assessment. Pricing is quote-based, annual, and not publicly disclosed, with the sales motion running on a "Request a Demo" enterprise engagement model supported by PR placements in Law360 and PR Newswire, joint webinars with ISS SCAS, and monthly thought-leadership reports distributed via Issuu.

The business is privately held (SAR, LLC), has 1-10 employees, and operates from a single headquarters location in Bethesda, MD. SAR's customer base is concentrated in the insurance and legal verticals, and its revenue is not publicly disclosed; the company has raised one disclosed $1,000,000 financing in 2019 plus an undisclosed growth-stage round led by Anthem Management in May 2023 that included a board seat for Anthem principal Daven R. Shastri.

Name

SAR

Legal name

SAR, LLC

Website

https://sarlit.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

SAR (Securities Analytics Research), founded in 2018 in Bethesda, MD, sells a court-approved event study analytics platform that quantifies securities litigation risk for U.S. public companies, serving D&O insurers, corporate executives, legal counsel, and investment professionals via subscription data licensing and API access.

Ownership category

akta.pro rank

Product category

Securities Litigation Risk Analytics

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), All Other Financial Investment Activities (52399), Investment Banking and Securities Intermediation (523150)

SIC

Investors, Nec (6799)

akta.pro primary industry

Reference Data & Security Master / Corporate Actions Data Services (FSAFALAH)

akta.pro secondary industries

Operational Risk & Controls (RCSA, KRIs, Incident/Loss) (FSACAJAJ), Market Surveillance & Trade Monitoring Platforms (FSAFAKAA)

Keywords

• Securities litigation analytics
• Adverse corporate events
• Event study methodology
• D&O risk management
• Securities class actions

Headquarters

HQ city

Bethesda

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Data Licensing - Subscription: Subscription-based data licensing solutions providing access to SAR's ACE Database and SCA Database. Pricing is predictable and stable based on documented, back-tested results. Customers include underwriting teams, insurance and reinsurance actuarial professionals, executive risk advisors, and specialized research professionals.
2. Platform Access - SaaS: Cloud-based SAR Platform access delivered via dashboards, Microsoft Excel downloads, and API data feeds. Multi-modal data presentation supports efficient workflow integration across insurance and corporate functions.
3. Bespoke Data Licensing: Custom data licensing solutions tailored to specific customer requirements, including SCA Database for Exchange Act and Securities Act claims, and ACE Database for all U.S. equities on NYSE and NASDAQ.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

SAR (Securities Analytics Research) operates the SAR Platform®, a cloud-based securities litigation risk analytics offering that identifies and monitors Adverse Corporate Events impacting U.S. public companies listed on NYSE and NASDAQ. The platform applies the court-approved event study methodology to quantify securities litigation risk exposures, drawing on the proprietary ACE Database (5,000+ equities) and SCA Database (1,500+ class action filings), and delivers outputs through risk dashboards, Microsoft Excel exports, and API raw data feeds to insurance, corporate, legal, and investment professionals.

Product overview

SAR offers a specialized securities litigation risk analytics platform centered on the SAR Platform®, which provides company-specific visual risk dashboards to identify and monitor Adverse Corporate Events. The platform is supported by two core databases: the SCA Database℠ (Securities Class Action database with over 1,500 filings) and the ACE Database℠ (Adverse Corporate Event database covering 5,000+ U.S. equities). Users can access data through on-demand Microsoft Excel exports or API raw data feeds. The SAR Risk Score® is assigned to issuers based on market capitalization loss magnitude. Data licensing is offered on a subscription basis with bespoke solutions for different functions.

Differentiator

Problem solved

Functional benefit

Brands

• SAR Platform®: U.S. Public Company Securities Litigation Risk Management Data Analytics Platform that identifies and monitors Adverse Corporate Events based on corporate disclosures disseminated by issuers that trade on the NASDAQ or NYSE.
• SAR Risk Score®
• SAR ACE Database℠
• SAR SCA Database℠
• ACE Alert Subscription

Products and services

• SAR Platform® A cloud-based U.S. public-company securities litigation risk management data analytics platform that identifies and monitors Adverse Corporate Events using the court-approved event study methodology, delivering company-specific visual risk dashboards, Microsoft Excel downloads, and API raw data feeds. It is sold to insurance professionals, corporate executives, legal counsel, and investment professionals who need to assess securities litigation exposures from financially material corporate disclosures.
• SAR Risk Score® A proprietary risk score assigned to issuers trading on the NYSE or NASDAQ at the close of trading, measuring the probability and magnitude of securities litigation risk based on the magnitude of market capitalization losses on Adverse Corporate Events.
• SAR ACE Database™ Adverse Corporate Event database containing data on events impacting the risk profile of over 5,000 U.S. equities listed on NYSE and NASDAQ, licensed for data analytics on corporate disclosures and stock price reaction accounting for market and industry performance.
• SAR SCA Database™ Securities Class Action database containing over 1,500 individual securities class action filings with stock price reaction data on thousands of corporate disclosures alleged to be fraud-related by investor plaintiffs, covering Exchange Act and Securities Act claims.
• Data Licensing Solutions Subscription-based data licensing service providing access to SAR's SCA and ACE databases with bespoke licensing solutions tailored to underwriting, actuarial support, and risk management analysis, serving insurance professionals, corporate executives, legal counsel, and investment professionals.
• ACE Alert Subscription Near-real-time alert subscription service that notifies subscribers of company- and event-specific risk exposures stemming from financially material corporate disclosures tied to Adverse Corporate Events.

Quantifiable outcome

• 10,631 High-Risk ACEs identified from 4,544 U.S. public companies in 2-year period ending June 2025
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature5 records

Partnerships

One partnership is on record.

• ISS SCASstrategicGTM or Marketing Partner · 27 March 2023ISS SCAS (Institutional Shareholder Services Securities Class Action Services) partnered with SAR for webinars on estimating settlement sizes in securities class action cases. SAR participates as a panelist in D&O insurance-focused webinars.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Epiq: Epiq provides legal and financial data services including class action settlement administration and securities monitoring. Its class action administration business overlaps with SAR's securities class action focus, especially for institutional investor recovery programs.
• MSCI: MSCI provides index, ESG, and risk analytics to asset managers and institutional investors. While its core focus is index and portfolio analytics, MSCI competes for risk-analytics budget within institutional and investment professional buyer segments adjacent to SAR's offering.
• LSEG (Refinitiv): LSEG (formerly Refinitiv) offers market data, reference data, and risk analytics to financial institutions and corporates. It competes for compliance, risk, and analytics budget within insurance and corporate segments served by SAR.
• Cornerstone Research: Cornerstone Research is a large economic and financial consulting firm with a dedicated securities litigation practice that provides expert testimony and empirical analysis in class action and SEC matters. It competes with SAR in the same buyer workflows (class certification, settlement valuation) but operates as a consulting firm rather than a data platform.
• S&P Global Market Intelligence: S&P Global Market Intelligence provides fundamental and reference data on public companies, used by insurers, corporates, and investment professionals. SAR already leverages S&P as a raw data provider; S&P represents both a key supplier and a potential competitor with broader enterprise data distribution.
• Lex Machina (LexisNexis): Lex Machina provides legal analytics on litigation including federal securities cases, with data on judges, parties, and case timelines. It targets a similar legal counsel buyer persona as SAR but with a broader scope (all federal litigation) rather than SAR's narrow securities-ligation-risk focus.
• NERA Economic Consulting: NERA provides economic and financial expertise in securities litigation, including event study analyses and damages calculations. It overlaps with SAR's core methodology and D&O insurer buyer base but is structured as a consulting firm with academic affiliations rather than a subscription data platform.
• Bloomberg L.P. Bloomberg provides extensive financial data, analytics, and terminal-based risk tools used by investment professionals and corporate executives. While not a focused securities-litigation-risk product, Bloomberg competes for similar analytics wallet share at large enterprise buyers.
• Wolters Kluwer: Wolters Kluwer offers regulatory, compliance, and risk data products (e.g., OneSumX, TeamMate) used by financial institutions and audit/insurance teams. While not narrowly focused on securities litigation risk, it competes for risk and compliance budget at the same enterprise customers SAR serves.

Direct peers

• ISS (Institutional Shareholder Services): ISS, and specifically ISS SCAS (Securities Class Action Services), is the closest direct peer: it offers securities class action monitoring, recovery, and settlement data to institutional investors and asset managers. SAR already partners with ISS SCAS on webinars, and both compete for budget related to U.S. securities class action analytics.

Market position

Strengths1 record

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/sar-llc/?viewAsMember=true

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SAR