Premise Data operates a cyber-physical market intelligence platform that combines machine learning with human intelligence to collect and analyze real-time data from a curated global network. Led by CEO Maury Blackman, the company serves customers via a blend of automated and human-sourced inputs. Premise intends to use the new funds to expand its platform capabilities and grow its global network. The company completed an $85M Series E financing and has now raised more than $150M to date. As part of the round, new board members will join the company. Premise maintains offices in San Francisco, Washington, D.C., and Seattle. Premise operates a mobile-app-driven economic data platform that tasks a distributed network of contributors to photograph and document local economic and humanitarian conditions. The company manages roughly 25,000 contributors across 32 countries and supplies customers such as the World Bank, United Nations, Gates Foundation, Bloomberg and Standard Chartered with granular, place-based observations. Its product combines platform and app development, data science, contributor ranking and an anti-fraud team to ensure data quality. Premise has about 40 employees split across engineering, network management, and growth/sales operations, and has paid out close to $3 million to contributors over the last 18 months. Contributors typically earn $100–$120 per month and observations pay roughly $0.06–$0.40 depending on difficulty; the company plans to grow headcount to the low 60s by year end and to the low triple digits by the end of next year. The board includes Chamath Palihapitiya and Larry Summers, and Valor Equity Partners’ Antonio Gracias is joining the board following the new investment. Premise builds a next-generation economic monitoring platform that combines online scraping from roughly 20,000 e-commerce sites with a distributed on-the-ground mobile workforce to collect price, availability, quality, and other metrics. The company offers products such as a Global Inflation Monitor and a Food Security Monitor and exposes data via an API for customers and developers. Premise tracks 25 food staples across 25 cities in markets including India, China and Brazil and has built item-level indexes and charts that customers use to predict inflation and resource imbalances. Its mobile contributors upload photos and metadata (price, location, store, time/date) via iOS and Android apps; many of these workers earn about $20–$40 per week. Customers include Bloomberg (which redistributes Premise data via terminals), financial services firms, corporations and governments. The company was founded by David Soloff and Joe Reisinger and recently completed a funding round, bringing its total financing to date to $16.5 million.

Total raised

$146M

Funding rounds

3

Latest round

Series E

Latest activity

Jan 2021