US – Global financial information business Bloomberg has completed its acquisition of consumer data analytics company Second Measure (Bloomberg Second Measure).
About Bloomberg
Bloomberg, the worldwide business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of data, people, and concepts. The company’s strength – delivering data, news, and analytics through innovative technology, quickly and accurately – is at the Bloomberg Second Measure Terminal core. Bloomberg’s enterprise solutions repose on its core strength: leveraging technology to permit customers to access, integrate, distribute and manage data and knowledge across organizations more efficiently and effectively. For more information, visit www.bloomberg.com or request a demo.
About Second Measure
The Bloomberg Second Measure may be a technology company and leading provider of knowledge analytics that deliver valuable insights into company performance and consumer behavior. Using data from billions of anonymized transactions, Second Measure has created self-service analytics products for daily tracking and real-time exploration of 5,200+ public and personal companies. Many of the world’s largest brands and investment firms depend on the Second Measure to form faster and better decisions. Clients use Second Measure to get new markets, gain a plus in financial investments, and inform their competitive strategies. A Y Combinator alumnus (YC2015), the corporate is predicated within the Bay Area with a NY office. For more information or to request a demo, visit www.secondmeasure.com.
Bloomberg acquires Second Measure to unlock transaction data insights
Bloomberg today announced that it’s acquired data analytics platform Bloomberg Second Measure, a San Mateo-based startup that leverages big data to glean insights into consumer behavior and company performance.
Founded in 2015, Bloomberg Second Measure has developed a self-serve analytics platform that supports real-time and daily metric tracking, using data from “billions of anonymized transactions,” including Mastercard payments. Its machine learning algorithms can scan purchase records to get insights compared by geography or time-frame, for instance, and used for predictive analytics. The second Measure has amassed various notable clients through the years, including Instacart, Postmates, Domino’s, Spotify, and Goldman Sachs.
Built-in behavior-tracking tools enable businesses to drill down and consider such data points as similar stores consumers patronize or which brands they address after ditching a rival. At the same time, coffee chains could use Second Measure to conduct marketing research of coffee drinking in local areas after opening new stores.
Aside from its news publishing property, Bloomberg is probably best known for its financial data and analytics services, which are accessed by thousands of companies through Bloomberg Terminal. Investors are a severe audience to Second Measure because it delivers insights into specific businesses or sectors they’ll wish to take a position in. This “alternative data” appears to be what attracted Bloomberg Second Measure, as Bloomberg has found investment firms are pursuing “more data-driven investment strategies.” At its core, Second Measure helps investors add up to the deluge of knowledge they’re faced with.
Terms of the Bloomberg deal weren’t disclosed. Still, Second Measure had previously raised around $25 million, most of which arrived via its series A round in early 2019, so this acquisition wasn’t likely to interrupt the bank.
