San Francisco based economic data tracking platform Premise has raised $50m in Series C funding from Social + Capital Partnership and Valor Equity Partners. The startup provides clients like the World Bank highly valuable insights by using 25,000 “contributors” in 32 countries who photograph / document relevant economic data. In this article, co-founder David Soloff speaks with TechCrunch to outline Premise's recent funding round and its overall business model.
Just how extensive is the impact of government-driven food rationing in Venezuela? Premise has boots on the ground who will show up at grocery stores and send back information that Premise’s data analysts then parse. In Yemen, where there’s an emerging famine, how much of the food aid being dropped into the country is reaching its intended destination? Because of its recruits, Premise knows more, and faster, than the relief organizations that are becoming some of its customers. (Others of its customers include Bloomberg and Standard Chartered Bank.)