Second Measure, a market research firm that develops actionable insights to consumer behaviour as it analyses billion of consumer purchases every day, has received $20 million in Series A funding led by Bessemer Venture Partners. Second Measure indicated that the new funds will support the expansion of the company’s technical team.
More information about Second Measure can be found in this report by PRNewswire:
Second Measure has built a self-service platform that helps clients identify fast-growing companies, benchmark competitors, and better understand consumer behavior. The world’s best-known financial firms and corporate brands—from Greylock Partners and Neuberger Berman to Domino’s and Spotify—rely upon Second Measure to make faster and better decisions. Even media outlets as far-ranging as Bloomberg, CNBC, Recode, and Wall Street Journal trust Second Measure for the most up-to-date information that enriches their reporting and analysis. Examples of Second Measure research results can be found at Data Points.
With this new round of financing, the company has received $25.5 million in total funding. Previous investors include Jefferies Financial Group, Norwest Venture Partners, Shasta Ventures, Foundation Capital, Y Combinator, and other top funds and angels.
Second Measure makes it simple to quickly answer real-time questions about how companies are performing and where consumers are spending. With traditional market research, most data collected and analyzed is outdated even before release. Similarly, traditional investment research depends on infrequently updated financial information.Second Measure dramatically improves upon these traditional processes by providing real-time access to consumer spending data, analyzing billions of anonymized purchases to provide a clear and accurate view into the performance of thousands of private and public companies.
Using Second Measure’s self-service platform, investors can identify fast-growing companies, validate investment theses, and track company performance intra-quarter. Consumer brands can benchmark themselves against their competitors, dive into regional performance, and develop rich buyer personas based on spending behavior—all with a daily view powered by direct observation of millions of U.S. consumers.
