The San Mateo based, Second Measure, $2m in seed funding from Y Combinator, Bessemer Venture Partners, Norwest Venture Partners, and Shasta Ventures — all of whom have also become clients looking for a competitive edge. The company analyzes billions of credit card transactions to help investors analyze a company's performance.
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This startup is the new secret weapon investors are using to outsmart each other
So the company decided to become both a source of consumer spending data and the ones to analyze it. Due to strict confidentiality agreements, Second Measure can’t say exactly where it receives its data from, but says it works with a massive quantity of anonymized consumer spending data, and that this data makes up a representative selection of 2-3% of all credit card transactions. The data is not coming from retailers or other companies Second Measure tracks, and not from individual tracking, which suggests the company has a deal with one or more banks, credit card companies, or credit agencies, but Second Measure would not confirm this. Regardless, it's got detailed data about billions of credit card transactions, and it’s only increasing as the company crunches through data every day.
