Earnest Research, a data analytics provider for measuring the consumer economy, has raised $15m in its Series B round.
Pivot Investment Partners led the round, with existing investors Greycroft, Osage and Bonfire Ventures also contributing. The funds will be used to support the growth of data platform, further product innovation, and expansion into new industry verticals.
Founded in 2012, the company provides companies, investors and consulting firms a near real-time view into the consumer economy. Earnest works with data partners to transform their raw data into insights which help businesses track sales, average ticket, transaction and membership growth across hundreds of companies.
It can also offer competitive, geographic, and customer dynamics driving consumer behaviour, tracking full wallet spend, customer migration, and metrics at a merchant level.
Earnest Founder and CEO Kevin Carson said, “We are proud of what we have accomplished over the past seven years. Earnest has established a leadership position in a large and rapidly growing market.
“The opportunity in front of us is enormous, and we are aggressively investing in talent, new data sets and product innovation to expand our platform. We are excited to bring Pivot on as an investor, as they share our vision for what we are building and have a deep understanding of our business.”
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