L2, a NYC-based subscription business intelligence firm focused on digital innovation, closed a $16.5m funding round.
General Catalyst Partners made the investment. In conjunction with the funding, Paul Sagan, a partner at General Catalyst, will become L2’s non-executive chairman, while Larry Bohn, managing director of General Catalyst, joined the board.
The company intends to use the funds to accelerate the development of its subscription business intelligence service and expand its global presence (in Europe, Asia, and Latin and North America).
Founded in 2010 by CEO Scott Galloway, L2 uses proprietary research and tools to provide managers with visibility into a brand’s digital performance. Its Digital IQ Index® (DIQ) provides customers with insights on dimensions including site, digital marketing, mobile and social media. Through proprietary technology and methodology, DIQ registers over 850 data points across a brand’s digital presence to highlight strengths and weaknesses.
The company is tracking over 5,000 global brands.