Second Measure, a technology company that analyses billions of everyday purchases to answer real-time questions about consumer behavior, has closed $20 million in a Series A funding round co-led by Bessemer Venture Partners and Goldman Sachs, and joined by Citi Ventures.
With this new round of financing, the four-year old company has received $25.5 million in total funding. Previous investors include Jefferies Financial Group, Norwest Venture Partners, Shasta Ventures, Foundation Capital, and Y Combinator.
Second Measure's self-service platform tracks consumer spending in real-time helping investors identify fast-growing companies, validate investment theses, and track company performance intra-quarter.
In the market research arena, consumer brands can benchmark themselves against their competitors, dive into regional performance, and discover new markets and spending trends.
"What sets Second Measure apart is its platform's ability to support real-time, ad-hoc queries with high accuracy and massive scale," says Luis Valdich, managing director and venture investing lead at Citi Ventures. "This unlocks new and powerful use cases for corporates and private equity investors that go beyond the traditional use cases for transactional spend data among public market investors."