The round was led by The Social+Capital Partnership with participation from existing investors Google Ventures, Harrison Metal, Andreessen Horowitz and Bowery Capital. In conjunction with the funding, Chamath Palihapitiya of Social+Capital joined Premise’s board.
The company intends to use the funds to scale operations.
Led by David Soloff, CEO, and Joe Reisinger, CTO, Premise is an economic monitoring platform that enables customers to track global business and economic conditions in real-time across thousands of online and real-world locations. It monitors the price, quality, availability, and other metrics of a range of goods and services, from online and on-the-ground sources.
The data set includes price, MSRP/list price, discount, in-stock, and ratings information for millions of products and services globally from over 20,000 e-commerce websites and real-world coverage across key cities in Asia, Latin America, USA, and Europe.