Today we are thrilled to announce we have raised $85 million in a Series E financing to expand our platform capabilities and global network. The round was led by WestCap Group with participation from existing investors 8VC, Hanover Partners, Tao Capital Partners, Valor Equity Partners, Communitas Capital and Atreides Management who each also participated in Premise’s Series D round. Winslow Capital, DRW and NightDragon Security are new investors who collectively recognize Premise’s potential as the leader in agile market intelligence gathering. We are also proud to welcome Laurence Tosi, Dave DeWalt and Alex Moore to Premise’s board.
Premise is rapidly transforming the ways organizations collect data, measure programs and provide decision makers with real-time insights that are critical to success. This new funding provides the company with even more resources to continue to disrupt this marketplace and to accelerate development of our best-in-class technology.
Premise owns the broadest and most sophisticated cyber-physical market intelligence platform that blends machine learning with human intelligence, making it possible to gather and analyze real-time data from a curated and trusted global network. The mass adoption of smartphones worldwide has opened an entirely new market for capturing data at scale. The unlocking of new decentralized crypto payment capabilities, such as Bitcoin, attracts millions of contributors globally by providing more payment options. Further, advancements in deep tech enable Premise to learn from and autotask our network and rapidly decipher the most salient data. This has resulted in 600% revenue growth over the past 36 months and the company’s recognition as one of Deloitte’s Fast 500 for 2020.
The past year has been fantastic for Premise, especially given the trying times we’ve all experienced. We’ve found new ways to use our technology to serve our customers which include Global 2000 companies, international development organizations and government entities around the world.
Some highlights:
- We expanded to new markets, including Japan, South Korea and Western Europe, including Germany, France and Italy; Premise is now available in over 100 countries. In 2021 we will continue expanding our geographic footprint further, so stay tuned and follow our travels!
- The COVID-19 pandemic has been upending nearly every facet of life for almost a year now and we’ve been collecting data about it practically since day one—some 150 million data points so far. The information is used by public health experts like IHME and government agencies that are continually assessing how the virus is affecting their communities.
- For some people, Premise provides “extra” money for nice-to-haves, but for others, Premise literally puts food on the table or pays for school. We are gratified to hear from contributors nearly every day who let us know how much they appreciate the work they do for us.
- Our network of contributors averaged over 100K daily submissions, ranging from surveys on COVID-19 to in-store grocery audits.
- We launched our Premise Global Index which monitors five key quality-of-life factors (including Consumer Habits, Economy, Institutions, Basic Services and Social Issues). This data helps our customers detect small changes in socio-economic conditions on the ground, often serving as a leading indicator of broader sustained changes.
All in all, we have made huge strides toward our goal of leading the paradigm shift toward agile market intelligence and we’re just getting started. We see unlimited opportunities to do more for both our customers and our contributors and are so excited for the year ahead, and beyond.
I am very excited about what this news means for the future of the company and would like to personally thank everyone who has participated in the process. If you’re interested in learning more about how Premise’s technology can help reimagine your business reach out at [email protected].