Premise, a US-based technology company that is building a global network to track macroeconomic and human development trends in real-time, has raised $11m in a series B round of funding featuring existing backer Google Ventures.
The target company is a software and mobile infrastructure company that is collecting millions of discrete data points every day from thousands of local sources, enabling its clients to understand and navigate volatility in global inflation.
The deal was led by the venture fund Social+Capital Partnership, which was set up by former Facebook exec Chamath Palihapitiya, who will join Premise’s board. Existing investors Harrison Metal and Bowery Capital also took part in the funding round, which brings the startup’s funding to $16.5m.
Premise was created by MetaMarkets co-founder David Soloff and MetaMarkets’ Chief Scientist Joe Reisinger. MetaMarkets is a real-time analytics platform for buyers, sellers and marketplaces in the programmatic advertising space. Michael Dearing, founder of Harrison Metal, spent many years at eBay, where he worked as Senior Vice President & General Merchandise Manager.