US-based consumer data software provider Second Measure has been bought by media group Bloomberg for an undisclosed amount allowing financial services firm Citi to exit.
Second Measure provides technology that can analyse transaction data to produce insights on business performance and consumer behaviour, and its analytics platform tracks more than 5,200 public and private companies.
The company received $20m in a February 2019 series A round co-led by investment banking firm Goldman Sachs and venture capital firm Bessemer Venture Partners (BVP) that also featured Citi’s VC arm, Citi Ventures, increasing its overall funding to $25.5m.
Second Measure had raised $2m in a seed round featuring BVP, Y Combinator, Foundation Capital, Norwest Venture Partners and Shasta Ventures in 2016 and has also described investment bank Jefferies as a previous investor.
Second Measure co-founders Mike Babineau and Lillian Chou said: “Bloomberg’s leadership, scale, and complementary products will accelerate Second Measure’s ability to deliver novel insights to our clients. This provides a tremendous opportunity to bring new data, tools and methods to the market, helping to usher in a new era of company and consumer analysis.”