New York-based crowd-sourced estimates provider Estimize has secured $6 million of Series B funding to develop new datasets in collaboration with Euromoney. Euromoney, the UK publishing house and information provider, purchased a 10 percent stake for $3.6 million as part of the round.
"The media is an incredibly important part of making Estimize the dataset," Leigh Drogen, founder and CEO of Estimize, told Benzinga. "They have an incredibly strong media brand. When they approached us and they started to talk to us about all their different properties, it became obvious that there was gonna be some significant tie-up there. I think they understand that financial data is really the future of the industry." Drogen said that Estimize "represented a direction" that Euromoney "wanted to move in." "I think, for us, we see our research as an incredible platform," Drogen continued. "They are the largest macroeconomic research platform in the world. They have basically every macroeconomic asset manager -- anybody that pays attention to any of that is a client of theirs."