Bloomberg Second Measure Company Profile
Background
Bloomberg Second Measure is a leading provider of transaction data analytics, delivering valuable insights into company performance and consumer trends. Founded in 2015 by data-focused engineers Michael Babineau and Lillian Chou, the company was acquired by Bloomberg L.P. in December 2020. Its mission is to empower investors and businesses with real-time, data-driven insights, enhancing decision-making processes across various industries.
Key Strategic Focus
Bloomberg Second Measure specializes in analyzing billions of anonymized consumer transactions to provide near-real-time insights into company performance and consumer behavior. Its core objectives include enabling clients to track company performance intra-quarter, validate investment theses, and identify fast-growing consumer companies. The company leverages proprietary data analytics and technologies to serve investment firms and consumer brands, offering daily updates on thousands of public and private companies.
Financials and Funding
Prior to its acquisition by Bloomberg L.P., Second Measure secured a total of $25.5 million in funding. In February 2019, the company closed a $20 million Series A funding round co-led by Bessemer Venture Partners and Goldman Sachs, with participation from Citi Ventures. This funding was utilized to support product innovation, rapid growth, and expansion of its technical team.
Technological Platform and Innovation
Bloomberg Second Measure's proprietary data pipeline transforms raw transaction data into structured, actionable insights. Key components include:
- Merchant Resolution: Deciphers transaction descriptors, tagging them to corresponding merchants and mapping them to business entities.
- Enrichment: Appends and corrects transaction-level information, inferring missing or incorrect data and segmenting online versus in-store purchases.
- Normalization: Accounts for natural churn in consumer panels by normalizing data daily, ensuring metrics remain accurate despite fluctuations in panel size.
These methodologies enable the company to provide clients with reliable and timely data, updated daily with a 3-day lag from the transaction date.
Leadership Team
The leadership team at Bloomberg Second Measure includes:
- Jacob Boerema: Chief Executive Officer
- Akshay Chander: Chief Operating Officer
Both executives bring extensive experience in data analytics and technology, steering the company towards continued innovation and growth.
Competitor Profile
Market Insights and Dynamics
The demand for alternative data solutions is rapidly growing as investment firms and consumer brands seek more data-driven strategies. The market for transaction data analytics is characterized by the need for real-time insights into consumer behavior and company performance, driving competition among providers.
Competitor Analysis
Key competitors in the transaction data analytics space include:
- YipitData: Offers alternative data research and analytics, focusing on consumer transaction data to provide insights into company performance.
- Earnest Analytics: Provides data-driven insights into consumer behavior and company performance, utilizing a variety of data sources.
- Similarweb: Specializes in digital intelligence, offering insights into website traffic and online behavior, which can complement transaction data analytics.
These competitors focus on delivering actionable insights through various data analytics platforms, catering to investment firms and consumer brands seeking to enhance their decision-making processes.
Strategic Collaborations and Partnerships
Bloomberg Second Measure's acquisition by Bloomberg L.P. in December 2020 has significantly enhanced its capabilities and market reach. This collaboration integrates Second Measure's transaction data analytics with Bloomberg's extensive financial data and analytics platforms, providing clients with a comprehensive suite of tools for investment research and consumer behavior analysis.
Operational Insights
By combining proprietary transaction data analytics with Bloomberg's financial data services, Bloomberg Second Measure offers a distinct competitive advantage. This integration allows clients to access a holistic view of company performance and consumer trends, facilitating more informed investment and business decisions.
Strategic Opportunities and Future Directions
Bloomberg Second Measure is poised to capitalize on the growing demand for alternative data by continually enhancing its data analytics capabilities and expanding its coverage of companies and consumer behaviors. Future directions include further integration with Bloomberg's platforms, development of new analytical tools, and expansion into additional markets to provide clients with even more comprehensive insights.
Contact Information
For more information or to request a demo, visit the official website.
Bloomberg Second Measure's headquarters are located at Bloomberg Tower, 731 Lexington Avenue, New York, NY 10022, United States.
