Second Measure, a San Mateo, CA-based technology company that analyzes billions of everyday purchases to answer real-time questions about consumer behavior, closed $20m in Series A funding.
The round was co-led by Bessemer Venture Partners and Goldman Sachs, with participation from Citi Ventures.
The company intends to use the funds for continued product innovation, growth, and expansion of its technical team.
Founded in 2015 by Michael Babineau and Lillian Chou, Second Measure has built a self-service platform that allows clients to identify companies, benchmark competitors, and understand consumer behavior. It is used by
– financial firms to identify fast-growing companies, validate investment theses, and track company performance intra-quarter;
– corporate brands to 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; and
– media outlets to enrich their reporting and analysis.
With this new round of financing, the company has received $25.5m in total funding. Previous investors include Jefferies Financial Group, Norwest Venture Partners, Shasta Ventures, Foundation Capital, Y Combinator, and other top funds and angels.